Contingent liability of sub on acquisitionForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Contingent liability of sub on acquisitionThis topic has 1 reply, 2 voices, and was last updated 7 years ago by P2-D2.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts September 3, 2017 at 2:29 pm #405183 ChandanMemberTopics: 24Replies: 36☆☆General rule is that contingent liability of sub needs to be recognised on acquisition.But in one of the questions I did ‘Joey’, the contingent liability is added only in @acq and not in @reporting as well in (W2) Net assetsWhy is this the case? September 4, 2017 at 5:21 pm #405439 P2-D2KeymasterTopics: 4Replies: 7079☆☆☆☆☆Presumably as the liability had been settled by the reporting date.ThanksAuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In