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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?
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?
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