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gain/loss on acquisition of NCI stake

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › gain/loss on acquisition of NCI stake

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • May 21, 2021 at 7:34 am #621278
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    sir why do we say that no profit or loss arises if additional shares have been acquired(from NCI)/disposed(by parent entity- which holds more than 50%) in the consolidated financial statements??

    And if no profit or loss is calculated then WHAT DOES OTHER COMPONENTS OF EQUITY balancing figure shows? does not it shows the gain/loss on worth of NCI acquired v/s what was paid for it or vice-versa?

    May 21, 2021 at 9:48 am #621297
    Stephen Widberg
    Keymaster
    • Topics: 11
    • Replies: 2837
    • ☆☆☆☆☆

    We say it is because IFRS 3 insists that we say it. I don’t like it any more than you. 🙂

    Logic is that we should only recognise a profit or loss if there is a loss of control.

    Your second statement is correct – but don’t start banging on about reserves in the exam!

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