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Parent P&L

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Parent P&L

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by MikeLittle.
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    Posts
  • November 20, 2014 at 8:45 am #211520
    watersheep
    Member
    • Topics: 5
    • Replies: 1
    • ☆

    On the parent p&l of a group company do you show amortisation of good will?

    IE
    Cr Financial asset of subsidiary
    Dr Amortisation

    Or is this only done on a group level?

    November 20, 2014 at 11:11 am #211589
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23335
    • ☆☆☆☆☆

    We do NOT amortise goodwill, and you should stop using that verb to describe a reduction in the value of goodwill – it’s an impairment (and that’s a lot different than amortisation!!!!)

    Goodwill, although it’s a subsidiary asset, is NOT reflected in the financial statements of the subsidiary. It only appears on the action and reporting of consolidation

    In answer to your question (as revised) the goodwill on the acquisition of a subsidiary does NOT appear in the parent’s own records so, any IMPAIRMENT is shown only in the group financial statements

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