Group Statement of changes in equity

Section D 1 b) of the F7 syllabus requires you to be able to prepare a statement of changes in equity for a single entity, but NOT for a group

I showed one in the lecture to introduce the idea of what a statement of changes in equity shows and the example for which I did it was a relatively simple one

The figure for opening retained earnings is the same basic calculation as the figure for closing retained earnings …

H’s own (brought forward) +

H’s share os post-acq retained (brought forward) –

Goodwill impaired since acquisition (brought forward) … just our share

Same with the nci calculation:

Value at date of acquisition +

Their share of S post-acq retained earnings (brought forward) –

Their share of goodwill impaired since acquisition (brought forward)

If you can’t follow this, no problem … but you’ll need to get to grips with the concept and calculations for when you get to preparation of financial statements for a single entity

No, the opening figures do not feature (except incidentally) on the closing statement of financial position. They DO feature on the statement of financial position for the previous year end but … you’re not concerned with that!

OK?