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Year end

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Year end

Viewing 4 posts - 1 through 4 (of 4 total)
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  • March 12, 2019 at 3:05 pm #509167
    iza1
    Participant
    • Topics: 115
    • Replies: 112
    • ☆☆☆

    Hi John,
    If subsidiary has an year end of March and Parent has an year end of June , while doing consolidation do we do line by line consolidation ?

    I understand we will make an additional sheet about significant events and transactions of subsidary from March end to June end ?

    I cant get a clarity on consolidation adjustment

    March 17, 2019 at 8:04 pm #509561
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7180
    • ☆☆☆☆☆

    Hi,

    The consolidation process is as normal, even though the year-end dates are different. provided there is no more than three months between the reporting dates then that is fine.

    Thanks

    March 20, 2019 at 7:03 am #509779
    iza1
    Participant
    • Topics: 115
    • Replies: 112
    • ☆☆☆

    so i consolidate march to march of p and s then what do i do for april , may and june items in parent.. there is no corresponding in subsidiary right

    March 20, 2019 at 7:19 pm #509865
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7180
    • ☆☆☆☆☆

    Hi,

    You would consolidate both at June, including the results of S up to March and then adjusting for any significant (material) changes there may have been in the subsidiary.

    Thanks

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