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Shark and Minnow (consolidation numerical)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Shark and Minnow (consolidation numerical)

  • This topic has 4 replies, 2 voices, and was last updated 1 week ago by patlat.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • July 15, 2025 at 11:41 am #718421
    patlat
    Participant
    • Topics: 2
    • Replies: 3
    • ☆

    An adjustment part of a question has confused me . Please help me know how to account this:-

    Background:-
    Shark acquired 70% of Minnow on 1 November 20W6. The financial statements of financial position of shark and Minnow at 31 October 20X0 are given which show plant at net book value in shark and minnow are 200 and 50 respectively,

    Adjustment:-
    For the purposes of the acquisition, plant in Minnow with a book value of $50,000 was revalued to
    its fair value of $60,000. The revaluation was not recorded in the accounts of Minnow

    July 21, 2025 at 9:55 am #718500
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7177
    • ☆☆☆☆☆

    This is another FV adjustment at acquisition, so required again to adjust the net assets of the subsidiary and the PPE line in the CSFP at the reporting date.

    Thanks

    July 21, 2025 at 9:55 am #718501
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7177
    • ☆☆☆☆☆

    This is another FV adjustment at acquisition, so required again to adjust the net assets of the subsidiary and the PPE line in the CSFP at the reporting date.

    Thanks

    July 27, 2025 at 7:37 am #718567
    patlat
    Participant
    • Topics: 2
    • Replies: 3
    • ☆

    Is it a fair value adjustment or a revaluation reserve at the date of acqn?

    July 27, 2025 at 7:37 am #718568
    patlat
    Participant
    • Topics: 2
    • Replies: 3
    • ☆

    Is it a fair value adjustment or a revaluation reserve at the date of acqn?

  • Author
    Posts
Viewing 5 posts - 1 through 5 (of 5 total)
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