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Hi tutor,
I just wanted to ask if its necessary and common to copy out all the figures from the SFP from the exam question to then total up with the group figures? I imagine this is time consuming but not sure if it should be done. Thanks in advance Angela
Hi,
It isn’t necessary but you should prepare the consolidated financial statements. So I would start by doing the workings for net assets, goodwill, NCI and group reserves. Then once you’ve done this I’d begin to prepare the group accounts using the additional information and making adjustment where necessary.
The key in the question is to just crunch the numbers and do not do any explanation.
Hope this helps.
Thanks
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