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Profit attributable to NCI

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Profit attributable to NCI

  • This topic has 3 replies, 2 voices, and was last updated 7 years ago by MikeLittle.
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    Posts
  • October 28, 2015 at 3:13 pm #279397
    Salvatore
    Member
    • Topics: 21
    • Replies: 59
    • ☆☆

    Hi,

    I am just trying to recap what are the items I would need to deduct/add from a subsidiary profit for the year before I apply the % of non-controlling interest so to determine what is the profit attributable to NCI:

    -unrealized profit for sales from subsidiaries to parent.
    -unrealized profit for non-current assets sales from subsidiay to parent.
    -Depreciation for assets held by the subsidiary valued at fair value for consolidation purposes.
    -goodwill impairement.
    – canceled financial income/expenses for infa-group loan notes.

    something else?

    thank you

    Regards,

    S.

    October 28, 2015 at 4:46 pm #279417
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22699
    • ☆☆☆☆☆

    To arrive at this year’s subsidiary profit in order to find the basis from which to calculate the nci’s share ……

    I would not treat goodwill within that working ( though I can’t justify that comment – it’s just that I would charge the nci with their share of any goodwill impairment as a separate consideration)

    The intra-group loan interest would not be adjusted in getting to the profit figure to be apportioned. The omission of that finance income / finance expense is a cosmetic adjustment to ensure that we don’t include intra-group activity within the consolidation. But it doesn’t affect the nci profit share

    Other than those two points, you should be fine

    November 9, 2015 at 11:15 am #281250
    Salvatore
    Member
    • Topics: 21
    • Replies: 59
    • ☆☆

    Thank you Mike.

    November 9, 2015 at 11:42 am #281253
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22699
    • ☆☆☆☆☆

    You’re welcome

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