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Pre-Acquisition Retained Earnings

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Pre-Acquisition Retained Earnings

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by P2-D2.
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  • Author
    Posts
  • March 29, 2021 at 1:42 am #615430
    j2mtt
    Member
    • Topics: 4
    • Replies: 0
    • ☆

    Good Day,

    I’m currently doing some section C exam kit questions. In these questions the retained earnings at acquisition is not given. How do you calculate it when it’s not?

    April 1, 2021 at 5:36 pm #615700
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6473
    • ☆☆☆☆☆

    Hi,

    If it is not given then you will be able to calculate it from the information given in the question. We tend to see this when there is a mid-year acquisition.

    Usually you have to pro-rate the profits for the year and look to deduct the profit earned since acquisition from retained earnings at the reporting date.

    Thanks

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