consolidation

It’s often given in the “preamble” to the question! “At that date, the retained earnings were ….” Otherwise, if it’s a mid-year acquisition, Steve Scott will tell you what the profits brought forward were, and what the profits for the year were. That way, you can time-apportion this year’s profits. So then retained earnings at date of acquisition would be 100% of the profits brought forward + the pre-acquisition ement of this year’s subsidiary profits

Please advise the best way while doing consolidation and financial statement questions :
1)How to keep track of double entries while doing consolidation questions. Because the details are too much and we are using different working tables as suggested by Kaplan , It is very difficult to remember the two legs in PL and BS. Please advise if there is any easy way to keep your debits and credits in track so that your BS is not out.
2)I am new to ACCA . Please advise what is the best way to make the BS and PL in the answer paper. What I mean is Should copy the Balancesheet and Profit and loss account from Question paper and then do the adjustments on these copied BS & PL or First I should do adjustments on BS and PL provided in the question paper and after finishing copy it into my solution paper.
This question may sound little illogical but I really want to know the best way as per others experiences so I will practice the same way and save my time in the exam.

I will highly appreciate your guidance on above questions.
Many thanks

Hi

There are NO marks for writing out a pro-forma! Do the workings first – it’s where the marks are available to be scored.

I suggest ( but then I would suggest ) that you listen to the podcasts and read the course notes for the sequence of the workings. It seems to work for me and for my students.

there really is not the time available to write out the question!