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professional costs related to acquisition

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › professional costs related to acquisition

  • This topic has 1 reply, 2 voices, and was last updated 12 years ago by MikeLittle.
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  • September 8, 2012 at 1:32 pm #54426
    wahab11
    Member
    • Topics: 30
    • Replies: 15
    • ☆

    I would like to know that why professional costs of acquisition are debited to group retained earnings only , when there is no controlling interest 20% , in group questions and what is credit entry against this debit

    September 8, 2012 at 5:44 pm #105024
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23323
    • ☆☆☆☆☆

    Credit entry is Cash!

    Who incurred the professional costs of acquisition? Whilst these costs were being incurred, there was NO subsidiary and therefore no non-controlling interest!

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