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In the bpp ansewr they havent made a separate foreign exchange reserve and have just taken the gains/losses to Group Retained Earnings,is this acceptable in the exam?
Dear Mike,
I don’t understand the calculation of “Acquisition of further interest” part in Working 1.
Especially what is “Transfer to equity 10/30”? what is 10/30? How 16.03 was calculated?Thanks!
Rose originally bought 70% and is now buying a further 10 of the nci’s 30% – and that’s where the 10/30 comes from.
Having valued the increase in the value of Petal since acquisition, 30% of that increase is attributable to the nci ie 30% x 48.1 million = 16.03
Sir so we could take FX gains/losses on retranslation to group retained earnings also?
Bcz i normally make another working as the Group Foreign exchange reserve .
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