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Hi,
I`m combining parent 12m PNL and subsidiary for 7m PNL (as it was sold on 1. August), and I struggle with adj in parent PNL- I understand that need to take out transaction profit in stand alone FS (DR RE) [transaction was fully recognized in FS] and add calculated profit at conso level (proceeds minus NA@DOD, goodw). RE part is not balancing – I miss some principle here, could you please remind me or give clue where to look for example? 🙂 Thank you!
We don’t seem to get these sort of exam questions in SBR now. Please can you refer me to the ACCA question and I will have a look.
Thank you Stephen Widberg for attention!!!
Problem is a little bit of different type 🙂 – Acca was passed before couple of years already and now I`m working in reality and searching through valuable Mike/John course notes, unfortunately not successfully yet.
PNL result and Equity RE part should somehow get balanced 🙂Sorry, we only deal with ACCA exams.
For what’s it worth, it sounds as if you are doing the right thing:
Group RE = parent (excluding parent’s profit on sale of subsidiary) plus sub from date of acquisition to date of disposal plus ‘group’ profit on disposal calculated in the way described
Sorry I can’t be of more help/
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