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Morning, I am sitting FR shortly and had a question about potential changes to Group Accounts. I have your notes on FR for Dec 22 sitting and the group is made up of 1 Parent, 1 subsidary and 1 Associate. ACCA has advised that the group will now include 2 subsidary from Sept 22 sitting for FR – is this true? (No mention of 2 subsidary in your notes)
If so would this just get added into the standard workings for the CSFP and the CSPL?
I am assuming this change has not yet been implemented?
This is what it says in the ACCA syllabus:
“Amended the definition of a ‘simple’ group from one subsidiary and one associate to up to two subsidiaries and one associate.”
So, it is true, and all you would do is just include an additional net asset working for the second subsidiary, as well as an additional NCI working.