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Investment in Associate

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Investment in Associate

  • This topic has 4 replies, 3 voices, and was last updated 1 year ago by P2-D2.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • May 25, 2021 at 6:55 pm #621763
    sahersk
    • Topics: 30
    • Replies: 19
    • ☆

    Hello!
    Would PUP would be subtracted from the Cost of investment in Associate if the Associate sells to the Parent ?

    May 29, 2021 at 8:07 am #622111
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6115
    • ☆☆☆☆☆

    Hi,

    No, the PUP is deducted from the share of profit of associate, regardless of the direction of the sale.

    Thanks

    May 30, 2021 at 4:01 pm #622321
    sahersk
    • Topics: 30
    • Replies: 19
    • ☆

    Umm okay.. but the Kaplan study text says that PUP should be subtracted from the Investment in Associate regardless of the direction of the sale.

    May 30, 2021 at 5:03 pm #622333
    mklymenko
    • Topics: 3
    • Replies: 15
    • ☆

    That’s right, but it’s a double entry:

    Dr Share of Profit of Associate
    __Cr Investment in Associate

    May 31, 2021 at 7:40 pm #622497
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6115
    • ☆☆☆☆☆

    There’s your answer! Thanks

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