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