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Hi Mike,
How are you?
I have one question.
I am doing past papers now and when something goes wrong I am doing with answers of past papers.
But as I am doing with your lectures, sometimes it’s difficult for me to recalacuate as per you forma.
For Examle Re I am always doing as I saw in you lectures, but in aswers it’s another forma.
So my question is: Coul you please made proforma for 3 workings: Cons RE; G/W; NCI/. So we can use that forma. What goes to RE; what goes To G/W and what will go to NCI. I think it will help not only me but for all students.
Sorry for a liitle bit long qusetion.
Have a nice day!!
Thanks for your suppport:)
Hi Leyla
Im not sure that I understand your problem! I understand the question, but the proformas are all in the notes and I follow those proformas eery time I write an answer on the screen!
The only way in which the printed solutions differ from mine is in the treatment of pups when goods are sold by the parent (or subsidiary) to an associate. In that situation the nci figure and the Inestment in Associate figure is slightly different
Quote an example to me where you are getting different figures and Ill see if I can identify your problems
Thanks Mike for your promt reply.
Could you please look on Sep/Dec 2015 past paper question # 3 “Palistar”. Could you please write solution of Cons RE?
Thanks for you patience with us. I really appreciate your help!
Two columns, P and S
Per question 50,200 : 24,000
Financial asset investments gains 1,700 : 1,900
Pups (600) : –
Rights – : 10,800
Plant fair value adjustment – : (1,500)
Unrolled deferred consideration (900) : –
Sub totals 50,400 : 35,200Less pre-acq
Brought forward 14,000
6 months 4,000
Fair value plant (2,000)
Fair value investments 1,000
Fair value rights 12,000Sub total 29,000
Therefore post acq 35,200 – 29,000 = 6,200
Our share 75% x 6,200 = 4,650
Combined revenue reserves 50,400 + 4,650 = 55,050
Less goodwill impaired since acquisition 75% x 3,000 = 2,250
Total consolidated revenue reserves 55,050 – 2,250 = 52,800
OK?
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