Hello Sir,
If we are given the consolidated profit and we are asked to prepare consoliadted retained earnings ,so here which profit we have transfer to reatined earnings the profit for the year or we can choose the profit attributable to parent.
Thanks,
Ask the Tutor ACCA FR
Consolidated profit
Hi,
Yes, that is correct in that you transfer the profit attributable to the parent to the group retained earnings figure.
The profit attributable to the NCI will go to the NIC figure on the SFP in the equity section.
Thanks and good luck with the exam. It's been a pleasure to have helped you the last few weeks.
Thanks a lot for your help Sir.
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