Q1 Zippy, Boo and Ginny SOCI Sept/ Dec 2016

Hello Tutor

Was wondering if you could shed some light on an examination question

My query relates to Boo, ZIPPY AND GINNY (Q1 2016 Sept/ Dec) (consolidated SOCI)

I managed to complete the statement and most of the adjustments…

But when I looked at the answer , the examiner had a weird way of adding up the statement

In the examiners answer – theyve put each adjustment under the reporting entity , including the whole impairment of goodwill to the subsidiary that it relates to

The goodwill was calculated using the FV ( full goodwill method) – so I assumed that we split the Impairment between the parent and NCI…. Unless I’ve completely missed something

However on the foot of the statement in the NCI working , it doesn’t seem to take into account the NCI share of Impairment of goodwill

The impairment was actually included within the COS for the subsidiary , then the figures were added together with the parents to consolidate the Financial statement

So on the face of the SOCI, impairment loss has been included and consolidated…

but then I thought we calculate the NCI share at the foot of the statement and such % of impairment is deducted from the NCI PFY

Have I missed something ?

Hope I’ve explained it well enough ..