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Step disposal

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Step disposal

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • May 17, 2021 at 4:45 pm #620851
    konrad79
    • Topics: 1
    • Replies: 0
    • ☆

    Hi, on one of the Open Tuition lectures it was said that in a business acquisition you do not apportion, over time of ownership, revaluation gains, you just consolidate full amount per separate P&Ls. Now I was looking at syllabus example for step disposal and…..revaluation gain has been apportion from the start of the year till disposal date. Per your lectures I assumed it would be ignored as happened after disposal. Could you please advise?

    May 18, 2021 at 5:44 am #620903
    Stephen Widberg
    Moderator
    • Topics: 10
    • Replies: 2557
    • ☆☆☆☆☆

    I assume you mean that parent buys subsidiary mid-year, and he subsidiary revalues an asset at the year end. Do we time apportion the revaluation surplus?

    I don’t think there is much consistency in practice. Personally, if you want a rule of thumb, I would time apportion.

    Remember, in group accounts, any marks given for numbers are for approach, so I wouldn’t get excited either way.

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