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Hi Mike,
Paradigm acquired strata on 1 oct 2012.
“The financial asset equity investments of paradigm and strata are carried at their fair values as at 1 April 2012. As at 31 mar 2013, these had fair values of $7.1m and $3. 9m respectively.”
When calculating the group share of strata retained earnings, why couldnt we add the HALF YEAR gain of equity investment instead of the FULL YEAR gain? I’ve watched your lecture on this but couldn’t get the answer from it
What do you understand by this extract from note (i) in the question?
“Also at the date of acquisition, Paradigm conducted a fair value exercise on Strata’s net assets which were equal to their carrying amounts (including Strata’s financial asset equity investments) …. “
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