- January 25, 2022 at 2:01 pm #647443vikipulkaMember
- Topics: 19
- Replies: 21
What do you think about this issue in the parent separate FS as of 31.12.20X5.
_Comparative period (31.12.20X4)_
Investments in Sanus – $1,000 (same amount as in 20X3, 20X2 and etc…recorded at cost, no impairment indicators. But the investment was made in NOK in the amount of NOK10,000. Let’s say NOK10,000 = $1,000 at the date of that transaction)
In 2015 The Company transferred a 100% participation interest from Sanus to Sanusito.
_Current year (31.12.20X5)_
Investments in Sanusito – $1,000
Is that correct? Because we just transferred the amount of our interest from one company to another, we shouldn’t consider any fx. Or we need to recalculate forex as of 31.12.20X5? (meaning 10,000 NOK >>> $ as of 31.12.20X5)January 27, 2022 at 9:20 am #647583Stephen WidbergKeymaster
- Topics: 12
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I don’t understand your question – transfer of participation interest? Do you mean we sold it to another unrelated company?
(If it’s another group company, that’s not in syllabus. Please clarify)
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