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Sir why we didnot amortise the initial cost of 1.2m for the year ended 3o nov14 after moving back the provision as an adjusting event.
an surely next time i will keep my queries small.ThanksI believe that we did! On 30 November 2013 we amortised by 1/3 of $1.2m didn’t we?
Sir do we need to proportion the exchange loss arising in net assets between parent and nci when nci 8s valued at a proportionate basis.Thank you.
And also any exchange loss arising in goodwill do we proportion them according to their sharing ratio between nci and parent hen nci is calculated at a proportionate basis to net aseets.Thank you.
“do we need to proportion the exchange loss arising in net assets between parent and nci when nci 8s valued at a proportionate basis” – yes
“Oe we just charge the whole loss in parents OCE” – no
“And also any exchange loss arising in goodwill do we proportion them according to their sharing ratio between nci and parent hen nci is calculated at a proportionate basis to net aseets” – yes
So that means we need to proportion exchange loss between nci and parent regardless valuing nci either at FV OR PROPORTINATELY.correct sir.
And whats about impairment on goodwill sir how we account for them like do we charge impairment when valuing nci proportionately.Thank you.
And sir i am a bit confused because in some solutions of foregn sub maths parent share of exchange gain is charge to retained earnibgs workings rather than oce.why
I am totally confused now Tom clendon said we dont propirtinate exchange gain loss on net assets when nci is valued at propirtinate basis.sir please help really confused now.
And sir if it is a consolidated P or L do we charge any forex gain loss full in parent retained earnings if nci is valued at proportionate to net assets.Thank you.
No, because when nci is proportionate, they don’t have any goodwill so we cannot in fairness charge them with an impairment of goodwill
Only because I didn’t show the statement of other comprehensive income. You’re right – it should have featured in that statement that I omitted to show
Where does Tom say that? And if you knew that, why did you bother asking me “Sir do we need to proportion the exchange loss arising in net assets between parent and nci when nci 8s valued at a proportionate basis”
“if it is a consolidated P or L do we charge any forex gain loss full in parent retained earnings if nci is valued at proportionate to net assets” – what does Tom say?
Oh yes i think i got it now may be tom was confused by my questions.
Anyways sir first of all
-If nci is calculated proportionately or at fair value we also proportion forex gain Or loss on net assets and goodwill between nci and parent.
-if nci is propirtionate basis and if it is consolidated P or L than we recond whole of forex gain or loss in parent retained earnings.
-No impairment charge to nci when nci is proportionately valued.Sir my last question if nci valued at fair value and it is consolidated Por L then how we proportionate Forex gain loss between parent and nci.so soory sir please dont mind.i am just trying my best to get this in my head.please help.
THANK YOU.These two seem to be self-contradictory!
“-If nci is calculated proportionately or at fair value we also proportion forex gain Or loss on net assets and goodwill between nci and parent.
-if nci is propirtionate basis and if it is consolidated P or L than we recond whole of forex gain or loss in parent retained earnings.”“-No impairment charge to nci when nci is proportionately valued.” should read “No goodwill impairment charge to nci when nci is proportionately valued”
Because ACCA are not publishing the September exam, there’s little point in us preparing detailed tips because we don’t know what was in the September paper
We shall be uploading tips from other major players and our own generalised tips
In fact the tips from BPP, Kaplan and Intuition are already uploaded
You’re welcome
Sir i am sorry my mistake.please dont mind.i am studying on ma own and without your help it would not be possible for me to solve this problems.please accept my apologies.
Dewan, no problem and certainly no need to apologise! I admire your spirit in tackling these exams on your own and am happy to assist where I can
Hi mike how are you hope well.ok mike i am confused why debt instruments that are financial asset(FA) are subsequently accounted for amortised cost if thet meet bussiness model and cahflow test.but what if the debt instrument FA have satisfied the test but are also sold before maturity if the holder of the FA have got another investment with higher returns.as 8 can see its measured at FVTOCI.bt FVTOCI is not it for equity instrument FA.please clarify me on this matter.Thanks.and could you please explain it in simple englishad i am not very goid at understanding complex english words .Thanks.
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