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chapter 7 example 11

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › chapter 7 example 11

  • This topic has 1 reply, 2 voices, and was last updated 12 years ago by MikeLittle.
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  • November 10, 2012 at 6:02 am #55155
    sj626
    Member
    • Topics: 5
    • Replies: 6
    • ☆

    dear Tutor, I have two questions about working 3 consolidated retained earning. Why not consider the inventory to the fair value adjsutment as at today, because it’s not exsit at end of year ?
    why consider the Non-depreciable non-current , because it’s exsiting at end of year?

    November 10, 2012 at 10:33 am #106951
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    Yes, working 3 is a working to determine the position as at “today” ( working 2 is a working to find the position as at “yesterday” )

    With reference to fair value adjusted assets which existed at date of acquisition, for working 3 we need to see which of those assets are still in the ownership / possession of the subsidiary as at the consolidation date

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