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Sir i have worked a question in the revision kit and there was a exchange gain arising on the translation of goodwill but this gain wasn’t included in the consolidated retained earnings.
I am thinking regardless of whether the full or partial method of goodwill was used, any resulting exchange gain/(loss) on translating the “goodwill” would have been included in the consol retained earnings.
Kindly advise sir.
Never mind sir, the gain on translation of the goodwill was included under the heading “consolidated translation reserve” i just located this.
But can this be reported under “group retained earnings” for the purposes of the exam?
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