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Consolidated SOFP & SOCI

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Consolidated SOFP & SOCI

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.
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    Posts
  • November 26, 2015 at 1:38 pm #285464
    enroluniabroad
    Member
    • Topics: 4
    • Replies: 9
    • ☆

    Hello,
    I’ve some issues in group accounts:
    1: w co purchased 70% of b co ordinary shares for $8800000 at 1 November 2007 (9260000 $1 shares of b co in total) when b co Retained earnings were $750000.
    it is group policy to value NCI at fair value. for this purpose fair value of Good will attributable to NCI was $600000.Consolidated good will was not impaired at 31st October2008.Retained earnings of b co at the end of the year $4750000.Calculate Good will arising on Acquisition of b co.

    2: if parent company owns some of Sub co loan notes , how to treat them in SOFP & SOCI(interest on loan notes & income for the parent co)

    3: if Parent owns all of the shares in Subsidiary and no NCI exist, how to calculate good will.?
    Thanks for all.

    November 26, 2015 at 2:57 pm #285506
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51571
    • ☆☆☆☆☆

    (1) and (3) are both covered in detail in our free lectures on consolidations.
    I cannot type out all the lectures here.

    (2) is not relevant for Paper F3 🙂

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