- This topic has 2 replies, 2 voices, and was last updated 3 years ago by
P2-D2.
P2-D2.-
Posts
-
gangsta1
- Topics: 75
- Replies: 10
- ☆☆
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.
gangsta1
- Topics: 75
- Replies: 10
- ☆☆
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?
P2-D2
- Topics: 4
- Replies: 6301
- ☆☆☆☆☆
Hi,
I think that now given the structure of the exam it would be expected to be shown separately, but if you didn’t then you wouldn’t lose a huge amount of marks.
Thanks
P2-D2- You must be logged in to reply to this topic.