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unrealised profit on inventory and expense.

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › unrealised profit on inventory and expense.

  • This topic has 1 reply, 2 voices, and was last updated 13 years ago by MikeLittle.
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  • June 11, 2012 at 8:13 am #53323
    ryanpieblock
    Member
    • Topics: 2
    • Replies: 0
    • ☆

    hello sir… in the consolidated financial statement…. unrealised profit in inventory is eliminated…. and from the adj profit its is split between the parent and the NCI….

    my question. when the subsidiary pays an interest to the parent… its is an unrealised expense because it is an income for the parent and intra group trading…consequently it is eliminated as well… but my question is WHY THIS IS NOT REFLECTED IN THE NCI SHARE OF PROFIT.
    2 days left please…. thnks regards

    June 12, 2012 at 2:17 pm #100061
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    Because you cannot have an income and an expense in the same consolidation – but you have to value consolidated inventory at the lower of cost and net realisable value

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