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In Consolidation(Mid Year Acq) Which Costs are Time Apportioned & which are not

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › In Consolidation(Mid Year Acq) Which Costs are Time Apportioned & which are not

  • This topic has 3 replies, 2 voices, and was last updated 10 years ago by MikeLittle.
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  • June 1, 2015 at 10:42 pm #251710
    Usman Saadat
    Member
    • Topics: 5
    • Replies: 9
    • ☆

    Hi, could you please tell which costs ∧ incomes should be time apportioned and which should not be while preparing consolidated statements of mid year acquisitions. I see depreciation should be time apportioned always, so should be sales, cost of sales and others. Why not investment income and some others like it?

    June 1, 2015 at 11:40 pm #251725
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    It really depends on when the income / expense arose. In F7 most incomes and costs will be time apportioned (“unless otherwise stated all incomes and expenses accrue evenly throughout the year” is what the examiner will likely say.

    If he DOES say that, then there will likely be one (probably an expense) that isn’t time apportioned evenly

    In that case, look out for a loan that was issued after acquisition date (or similar)

    Ok?

    June 2, 2015 at 3:32 pm #251955
    Usman Saadat
    Member
    • Topics: 5
    • Replies: 9
    • ☆

    Alroght Thanks.

    June 2, 2015 at 5:52 pm #252040
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    You’re welcome

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