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Sir I taught you always credit negative goodwill to the Consolidated RE but September 2016 F7 question 13 give a different recognition
It is credited to profit or loss . Which is right ?
How do you think that the figure for retained earnings is arrived at?
It’s the accumulation of all the successive years of accumulated profits from the bottom of the statements of profit or loss
So when I say “it’s credited to retained earnings, really the only way it can get into retained earnings is via the profit or loss account
OK?
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