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Ifrs 13

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Ifrs 13

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by MikeLittle.
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  • December 1, 2015 at 1:17 am #286586
    shoaibakram
    Member
    • Topics: 7
    • Replies: 6
    • ☆

    Dear sir,
    When we deduct unwound discount (contigent consideration ) in consolidated retained earnings .Could we also deduct in consolidated statement of comprehensive income as finance cost .if there is gap two years between acquisition and reporting period then how it’s account for :
    – SOFP
    – SOPL&OCI

    December 1, 2015 at 8:44 am #286642
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23309
    • ☆☆☆☆☆

    Yes, it is included as a finance cost in the statement of profit or loss

    The double entry is:

    Dr Finance charges in the statement of profit or loss
    Cr Liability (the amount payable that was deferred and discounted)

    Ok?

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