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Hi sir,
I have made stupid mistake on consolidation question 1, although the parent acquired sub 9 months prior to year end. However when I was prepare consolidated profit of lost I have approportioned the sub 8/12 months instead of 9/12 months. Can you please advise how many marks I would lose for this stupid mistake?
For tose others reading this thread, not only should you use your fingers to count the months up to the date of acquisition. You should also count the number of months since acquisition (again, using your fingers) and then make sure the total adds up to twelve! If you make a mistake in the first exercise, it’s unlikely that you will also make a compensating error in the second exercise so you’ll finish up with 8 months pre-acquisition and 3 months post-acquisition and that’s when the alarm bells should start to ring!
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