• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

Consolidated statement of financial position

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Consolidated statement of financial position

  • This topic has 7 replies, 4 voices, and was last updated 6 years ago by biggles.
Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • June 18, 2016 at 8:45 pm #323423
    Saimon
    Member
    • Topics: 123
    • Replies: 55
    • ☆☆

    Sir when their is a fair value for inventory and organization still have those inventory,didn’t sold any of that inventory at the end of the year , then should it be included in (w3) consolidated retain earning

    June 18, 2016 at 9:25 pm #323431
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22829
    • ☆☆☆☆☆

    It already is included within the closing inventory

    The only thing you have to worry about is the elimination of the pup

    July 3, 2016 at 1:22 pm #324628
    Saimon
    Member
    • Topics: 123
    • Replies: 55
    • ☆☆

    in the note if question does not state where to include the depreciation charge of a plants FV then where should i include it in the statement of profit and loss

    Admin expense or cost of sale

    July 5, 2016 at 8:13 am #324716
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22829
    • ☆☆☆☆☆

    Normally in cost of sales. It COULD be in Admin but it would be unusual for the examiner not to tell you where depreciation is to be included

    These questions would be better in the Ask ACCA Tutor forum!

    July 25, 2016 at 12:03 pm #328904
    Saimon
    Member
    • Topics: 123
    • Replies: 55
    • ☆☆

    If there is a change in fair value of parents asset then will it always be included in the consolidated retain earning

    July 25, 2016 at 12:20 pm #328909
    Saimon
    Member
    • Topics: 123
    • Replies: 55
    • ☆☆

    June 2016 consolidation question

    note 4 )

    the financial asset equity investment of Zanda co and Medda Co are carried at their fair value at 1 april 2015.at 31 march 2016 these had fair value of $6.1 million and $1.8 million respectively,with the change in Medda co investment all occurring since the acquisition on 1 oct 2015

    1) why didn’t we include the change in fair value of subsidiaries equity investmen in calculation of consolidated goodwill??????

    2) How should i treat this note when,suppose parent acquired subsidiary company in 1 april 2015 instead of 1 oct 2015 (year end 31 march 2016)???????

    July 31, 2016 at 9:53 am #330386
    dlobecam1
    Member
    • Topics: 4
    • Replies: 9
    • ☆

    Hi Tutor,
    Please correct me if I am wrong.

    1. It is a goodwill we are calculating and not the consolidated goodwill as S does not have goodwill. P is buying.

    2. The goodwill calculation is at the date of acquisition. Only the FV of S @ DOA is included. So the change in FV could not be part of the goodwill computation.

    3. The consolidated retained earnings is today, so the FV today (if still) should be included in the computation to have the FV of returned earnings. Minus the pre-acquisition return gives you the post acquisition retained earnings.

    In short, goodwill and retained earning are balance sheet position we are computating. The change in FV will only impact the Profit and Loss.

    Daniel.

    August 1, 2016 at 7:04 am #330526
    biggles
    Member
    • Topics: 6
    • Replies: 76
    • ☆☆

    Daniel, what is it about you that you expect Mike to answer your questions when you post them on a page that you KNOW that he rarely looks at

    He’s told you before, and I’m telling you now, if you want him to reply to your questions then you have to ask them on the Ask ACCA Tutor forum!

    But if you ask them on that pforum you can virtully guarantee that he’ll get back to you

  • Author
    Posts
Viewing 8 posts - 1 through 8 (of 8 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • MikeLittle on Termination of Offer – ACCA Corporate and Business Law (LW) (ENG)
  • zan13898 on Termination of Offer – ACCA Corporate and Business Law (LW) (ENG)
  • Bukr on Life cycle costing (part 2) – ACCA Performance Management (PM)
  • John Moffat on Inventory Control (part 2) Quantity Discounts – ACCA Management Accounting (MA)
  • zuhairabbas on ACCA AB Chapter 4 – Organisational culture – Questions

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy