CSoFP working – conventional way or tutor’s way?

Hi polaris,

Look , each tutor has his way of doing consolidation and so does the examiner!
Mike has lots of years of experience in teaching ACCA students. But u’ve got to understand that once u decide which way you follow , that’s it. Follow it. It’s better not to look at solutions to past papers that are done by someone else (even the examiner). Try to solve them in your way first and then check the answer. Otherwise u will be so confused.
And i guess it’s needless to say that even if u check past papers published at ACCA global, u will be even more confused because IFRSs change , rules change, terminology change. So if u still want to study from past papers then you need to work those out with updated kit.

Now as for method. It’s hard to say which one is better.
As for me i followed LSBF method, which was quite handy.
That is :
I) Group structure
– investment check (if you see that there is any external one)
II) Consolidated adjustments
– FVA
– depreciation
– PUP
– intercompany transactions (if any)
– Net assets list

III) Goodwill, NCI, Consolidated reserves
– Valuation of associate (if any)
– Goodwill (on the base of NA list)
– NCI
– Consolidated reserves

I never knew if it’s a conventional one or not.
But you really do not need to remember which working comes first , which second.
Just it will be hard for u to say work out goodwill first and only after that the NA list.
I hope u understand what i mean.
Otherwise numeration of workings doesn’t matter much.
Just i believe that LSBF’s way of organising those workings to 3 groups is a nice one and easier to remember and understand.