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Hey guys, I really need help here. In BPP Study Text Chapter 14 Section 1.4 (Oscar and Tigger) for part b. In order to calculate the profit on derecognition of equity investment, why do we minus fair value at 31/12/20X1?
If at the date control is obtained (30/9/20X2) the parent has already revalued the 25% equity interest to fair value (at 30/9/20X2) in its separate financial statements. Does that mean there is no profit on derecognition in the consolidated financial statements?
Help!!!
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