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Would the following be correct?
Revaluation Reserve
Inventory – 0
NDNCA – 15,000
DNCA – 18,000
pre. acq – (65,000)
post acq – (32,000)CSoFP @ 31/12/09
Share Capital – 200,000
Cons’l Ret. Earnings – 416,000
NCI SoFP – 88,500
Reval. Reserve (32,000)
Shareholders Funds – 672,500
Liabilities – 110,000
Total Net Assets – 782,500No it’s not exactly – but the bottom line answer is the same. Instead I have ventured to do a Revaluation Reserve calculation to be included in the CSoFP – but my number is negative (32,000). Can one have a negative Revaluation Reserve number in the CSoFP? I know you said not to pursue this route, but I would be very interested if my approach is correct!!
No, you cannot have a negative revaluation reserve! What would you do with it? Depreciate it?
Ok, so u r saying my approach is incorrect? – hands up So how do i then aim for the global prize when it comes to revaluation reserve!! 🙂 Actually i am not worried about the global prize, but very interested in how to deal with the revaluation reserve! Any tip/hint to set me on my way?!?
Revaluation Reserve
Inventory (all used) – 0
NDNCA – 15,000
DNCA (30-6-6) – 18,000
Total – 33,000
-Pre acq. – (65,000)
therefore post acq. revaluation reserve – (32,000)Are you referring to the video w.r.t this question? If so, then I have missed the point somewhere along the way. I have currently watched all video w.r.t. chapters 1-8.
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