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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 :
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)