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Contingent Liability

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Contingent Liability

  • This topic has 2 replies, 2 voices, and was last updated 8 years ago by boma77.
Viewing 3 posts - 1 through 3 (of 3 total)
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  • February 15, 2017 at 8:52 am #372479
    boma77
    Member
    • Topics: 70
    • Replies: 97
    • ☆☆

    Dear Tutor,

    In Q1 in the September/December 2015 there is a contingent liability at acquisition of Salt. However this contingent liabilty is not included when calculating the post acq. share of profit in the group Retained earnings.
    Share of post-acquisition profits of Salt (80% of ($74m – $56m)) 14·4
    Could you please help me why the contingent liability is not considered?

    Thank you.

    February 15, 2017 at 4:19 pm #372527
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7198
    • ☆☆☆☆☆

    Hi,

    If the contingent liability hasn’t changed in value then there is no post-acquisition profit movement in relation to it.

    Thanks

    February 15, 2017 at 4:33 pm #372531
    boma77
    Member
    • Topics: 70
    • Replies: 97
    • ☆☆

    Thank you very much for all your help.

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