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Group has close down its subsidiary

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Group has close down its subsidiary

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by P2-D2.
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  • October 24, 2021 at 7:57 pm #639018
    sarb
    Participant
    • Topics: 1
    • Replies: 0
    • ☆

    Hi there,
    Can someone please help me, a group has close down (dissolved) its own subsidiary. How would i treat this on financial statements. What would be the treatment? Do i have to put the any profit and loss from this subsidiary under separate line of discontinued operation on income statement. what about assets and liabilities of this subsidiary.

    Does it fall under IFRS 5 (but subsidiary is dissolved not sold) or any other standards. Thanks

    October 30, 2021 at 9:34 am #639448
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7171
    • ☆☆☆☆☆

    Yes, it would form a disposal group as part of discontinued operations.

    Thanks

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