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Zippy (SPL) – Net Asset working on part disposal of Ginny

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Zippy (SPL) – Net Asset working on part disposal of Ginny

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  • November 28, 2017 at 12:37 am #418492
    farid2016
    Member
    • Topics: 5
    • Replies: 20
    • ☆

    Hi.

    I think the above is Sept/Dec 2016

    Question 1

    Where is the 48m from in the loss on disposal of Ginny? See below: ( 48m x 9/12?)

    FV 44m
    FV of 40% investment retained
    Less:
    Net assets 118m + (48m x 9/12) = 154
    Goodwill = 26
    NCI = (66)

    Loss = 8m

    Help will be super appreciated. XxX

    November 30, 2017 at 10:09 pm #419269
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7163
    • ☆☆☆☆☆

    Hi,

    The disposal took place 9 months after the start of the year and so we are adding 9/12ths of the profits/OCI to the opening net assets. The profits/OCI are 48 for the whole year per the financial statements, hence 9/12 x 48.

    Thanks

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