Dear Professor,
If there is no explicit mention of the fact that sale of inventory between parent and subsidiary was at FV then we still let the loss remain in the consolidated SPL??
Or we will reduce the Cost of sales, if there is no mention of the fact that sale took place at FV.
Many thanks!
Ask the Tutor ACCA SBR
loss on sale of inventory to subsidiary
5y ago#1I would adjust COS unless it says FV.
If it cheers you up, unrealised profit has not been examined in the new syllabus.
Famous last words, but I suspect the examiner thinks that it is too dull.
:)
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