Hello Sir, for specimen exam applicable from Sept 2018
The examiner answer for Q1 part (b) last sentence
"Since the contingent payments relate to the acquisition of the NCI, the offsetting entry would be recognised directly in equity."
What is the offsetting entry that refers to in the question?
Thank you.
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Specimen Exam
6y ago#1I think he means:
Dr Equity (rather than goodwill or P&L or OCI) x
Cr Financial liability - FV x
Does the Equity refer to RE or OCE?
Thank you.
6y ago#3RE
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