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piecemeal acquisition

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › piecemeal acquisition

  • This topic has 3 replies, 2 voices, and was last updated 10 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • May 25, 2015 at 5:06 pm #248884
    pagermm
    Member
    • Topics: 13
    • Replies: 13
    • ☆

    Dear Mike,

    For piecemeal acquisition, transaction between equity,

    example: first time acquired 60% of subsidiary, then acquired 10%,

    There will be gain or loss in equity , this will go to OCE in SOFP.

    But how will this portion affect SOP/L?

    Will it appear in OCI? Thanks.

    May 25, 2015 at 5:10 pm #248888
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23309
    • ☆☆☆☆☆

    No, I don’t think so! The effect on the statement of profit or loss is in the differing percentages applied to the subsidiary’s results

    The double entry for the adjustment to shareholders’ equity is entirely within the statement of changes in equity and the profit or loss on the exchange of shareholding is held within that adjustment

    May 25, 2015 at 5:30 pm #248903
    pagermm
    Member
    • Topics: 13
    • Replies: 13
    • ☆

    Sorry, I can’t get it. What is the double entry for this ? eg, there is a gain in equity change.

    May 25, 2015 at 5:40 pm #248918
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23309
    • ☆☆☆☆☆

    Dr Nci

    Cr Other components of equity

    within the statement of changes in equity

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