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F7 consolidation statement

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › F7 consolidation statement

  • This topic has 3 replies, 2 voices, and was last updated 7 years ago by Chris.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • June 19, 2018 at 2:29 pm #459388
    soniashampa
    Member
    • Topics: 4
    • Replies: 3
    • ☆

    If a parent hold associate co. With deferred consideration 10% and payables $144000. To calculate goodwill how the payables will treat?

    June 19, 2018 at 3:06 pm #459394
    Chris
    Member
    • Topics: 7
    • Replies: 600
    • ☆☆☆☆

    I’m a bit confused by your question.

    An associate will not be consolidated, only equity accounted, so there is no goodwill calculation.

    For a subsidiary, you need to calculate the fair value of the net assets of the subsidiary, so you would deduct the payables and the fair value of all other liabilities from the fair value of all the assets in order to find the net assets.

    June 19, 2018 at 3:23 pm #459404
    soniashampa
    Member
    • Topics: 4
    • Replies: 3
    • ☆

    Thank you sir. And you are right it was about subsidiary .
    I have an another question, what the impect in profit and loss statement if negative goodwill arise?

    June 19, 2018 at 4:09 pm #459409
    Chris
    Member
    • Topics: 7
    • Replies: 600
    • ☆☆☆☆

    Negative goodwill is credited to the P&L immediately.

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