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December 2009 Question 1 Pandar

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › December 2009 Question 1 Pandar

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 19, 2015 at 10:12 am #283885
    jingdong
    Participant
    • Topics: 89
    • Replies: 115
    • ☆☆☆

    Dear Mike, In question Panda, when calculating NCI : (21000+2000)/2-2000=9500, i don’t understand why it needs to be deducted by 2000, i think this is an intragroup interest needed to be canceled, why it had been recorded in the profit and loss account of Salva?
    many thanks
    jingdongyu

    November 19, 2015 at 10:49 am #283902
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    I thought I’d just answered this!

    It’s included in the Salva statement of profit or loss because it’s an expense of Salva’s

    The ignoring / cancellation is done when we start adding across and we ignore the loan interest received in the parent’s income and reduce the loan interest paid in the subsidiary’s expenses

    November 19, 2015 at 12:17 pm #283922
    jingdong
    Participant
    • Topics: 89
    • Replies: 115
    • ☆☆☆

    thank you for your patiently answering, may i understand in this way: ignoring the loan interest received in the parent’s income should be treated like that (9500-2000) and reduce the loan interest paid in the subsidiary’s expense should be treated as (3000-2000)/2, may i assume that when i calculate NCI, i think it should be like this: (21000+2000)/2=11500?
    many thanks
    jingdongyu

    November 19, 2015 at 3:13 pm #283960
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    “may i assume that when i calculate NCI, i think it should be like this: (21000+2000)/2=11500” – surely that’s the calculation for the pre-acquisition profits in working W2. How does it fit into NCI?

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