- This topic has 1 reply, 2 voices, and was last updated 4 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Please clarify whether a susidiary that was purchased exclusively for sale should be consolidated or not. The BPP textbook says it should be consolidated, but the March 2020 answer guide on Hummings Co says Quaver should not be consolidated. Thank you!
In P&L, 100% of profits shown on a single line as ‘discontinuance’.
In SFP I’m not sure the position is very clear in practice. I think you would show 100% of assets as single line ‘assets held for sale’ – similarly for liabilities, a single line ‘liabilities held for sale’.
Best to avoid the word ‘consolidate’ and write what I have above.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.