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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 8 years ago by biggles.
Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • June 18, 2016 at 8:45 pm #323423
    Saimon
    Participant
    • 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: 27
    • Replies: 23327
    • ☆☆☆☆☆

    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
    Participant
    • 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: 27
    • Replies: 23327
    • ☆☆☆☆☆

    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
    Participant
    • 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
    Participant
    • 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
    Participant
    • Topics: 6
    • Replies: 80
    • ☆☆

    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

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