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consolidation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › consolidation

  • This topic has 4 replies, 2 voices, and was last updated 1 year ago by diyorbek.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • July 14, 2021 at 9:03 am #627688
    diyorbek
    Participant
    • Topics: 4
    • Replies: 3
    • ☆

    Parent’s brand name, which was internally generated so not shown in Parent’s financial
    statements but has a fair value of $3 million. should Brand be recognised as assets in the
    consolidated financial statements of Parent?

    July 14, 2021 at 8:33 pm #627760
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6440
    • ☆☆☆☆☆

    Yes, as the brand has a fair value and we will have paid for it as part of the purchase consideration then we can capitalise it in the group accounts.

    Thanks

    July 15, 2021 at 1:45 pm #627848
    diyorbek
    Participant
    • Topics: 4
    • Replies: 3
    • ☆

    Sir, in books there is written if subsidiary company has not recognised its internally generated brand in its financial statemnet and has a fair value, we can recognise it in consolidation statements. i wanted to know if parent company has internally generated brand with a fair value of 3m and parent does not recognise brand in individual statement. what will we do in consolidated statement? can we inculde parents brand or not?

    July 17, 2021 at 8:18 pm #628089
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6440
    • ☆☆☆☆☆

    Yes, you include the brand in the group accounts. It is not recorded in the individual accounts of the subsidiary, or the parent.

    Thanks

    July 19, 2021 at 4:16 am #628507
    diyorbek
    Participant
    • Topics: 4
    • Replies: 3
    • ☆

    thank you sir!!!

  • Author
    Posts
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