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Evening Mike,
Sometimes I see questions where the fair value increases in assets are added into working four but sometimes they are already included in the retained earnings as per the question.
Will the examiner make it clear whether the most up to date retained earnings already include the fair value increases?
If not how would we know whether to add or ignore fair value increases in working 4?
Thank you
Yes, the examiner WILL make it clear whether (rarely) the fair values have been recorded in the subsidiary’s records.
What I cannot understand is why the fair value adjustments are in working W4! They certainly don’t fit into any working W4 of mine!
Post again when you have a problem
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