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CONSOLIDATION

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › CONSOLIDATION

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.
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    Posts
  • June 20, 2021 at 2:49 pm #625925
    shaunak22
    Participant
    • Topics: 217
    • Replies: 41
    • ☆☆☆

    Teo Co acquired 95% of the ordinary share capital of Mat Co 31 December 20X0. The following
    information relates to Mat Co:
    20X0 20X1
    $’000 $’000
    Retained earnings 700 800
    Revaluation surplus – 100
    total 700 900

    The fair value of the non-controlling interest in Mat Co at the date of acquisition was $45,000.
    What is the amount reported for non-controlling interest in the statement of financial position of the Teo Group as at 31 December 20X1?

    In the solution they have apportioned 100 revaluation surplus to the NCI do we normally distribute revaluation surplus to NCI? since in all other sums we just distribute the retained earning to NCI not revaluation surplus

    June 21, 2021 at 6:31 am #625957
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51543
    • ☆☆☆☆☆

    The NCI are entitled o they % of all the reserves (not just the retained earnings).

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