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Consolidated income statement – impairment of goodwill and NCI

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Consolidated income statement – impairment of goodwill and NCI

  • This topic has 2 replies, 2 voices, and was last updated 13 years ago by blabla.
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  • December 5, 2011 at 10:00 am #50914
    blabla
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Hi,

    A couple of times in questions I have arrived at the wrong answer for NCI in the consolidated IS because I have attributed part of an impairment loss to NCI, whereas the answer seems to attribute the whole impairment loss to the parent. In both questions I have noticed this the NCI is valued at full value, so as I understand part of the goodwill is attributable to them and therefore an impairment should be allocated to them. I don’t really understand why the answers are allocating the whole goodwill impairment to the parent, especially when I have seen goodwill impairments being split on consolidated SOFP.

    The two questions I have noticed this in are both in the BPP 2011 exam/revision kit, Question 44, Patronic and Mock exam 2 question Hosterling

    Would anyone be able to help?

    Thanks

    December 19, 2011 at 4:55 am #90830
    nokia
    Member
    • Topics: 1
    • Replies: 63
    • ☆☆

    I haven’t seen the questions but u seem right by your argument.

    few things to remember because of which u might be wrong

    Impairment is allocated on the basis of holding %age
    In I/S only for the year impairment is charged.!

    There can be an error in kit as well (the exam kit is six sigma certified so there may be 3.4 defected lined in 1 million lines 🙂 )

    December 23, 2011 at 2:34 pm #90831
    blabla
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Hi nokia, thanks for your answer 🙂

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