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Consolidated FS

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Consolidated FS

  • This topic has 0 replies, 1 voice, and was last updated 6 years ago by iyamu.
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  • January 15, 2019 at 9:00 am #501996
    iyamu
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    • Topics: 286
    • Replies: 171
    • ☆☆☆

    How do we calculate the worth of the company so that we get the goodwill figure if NCI fv is $4 m and cash payment is $16 m and contingent of $10 m due for 2 years to be paid . The subsidiary retained earning at acquisition $7.8 m and share capital 10 m of $1 each .

    The contingent consideration is being valued by specialist at the beginning of acquisition to be $8 m however, it’s fair value at the end of the year was valued $7 m!

    The contingent was assessed that there is chance it will be paid and was accounted for in the FS as investment of $26 m but in the NCL section the $10 m was also accounted for.

    Who can calculate the the goodwill for me pls and how do we treat that contingent consideration ($10) that is to be paid in 2 years time?

    My goodwill calculation resulted to negative if Fv of contingent consideration was applicable.

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