Group Accounts The Consolidated Statement of Financial Position (1a) - ACCA (FA) lectures
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- Опубликовано: 1 авг 2018
- Group Accounts The Consolidated Statement of Financial Position (1a) - ACCA Financial Accounting (FA) lectures
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Free ACCA lectures for the ACCA Financial Accounting (FA) Exam
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In another video, i saw RE being eliminated from the sub nut here its added . which approach is correct?
You only eliminate 'pre-acquisition' retained earnings (against cost of investment). However, in the example 1 in this particular video, there aren't any pre-acquisition earnings as the sub was purchased on its date of incorporation. You add the parent's share of the subsidiary 's post-acquisition earnings to the parent's earnings, as is done in the first example.
BESTT
Display your question paper to make more comprehensive.
You can download the notes free of charge from our website.
you are literally told to download freeeee notes
Why does the share capital for S not get added to the total under consolidated accounts?
Because all of the assets and liabilities of the group are owned by the shareholders of the parent company - they obviously own everything in the parent company but because their company also owns the subsidiary they own the subsidies net assets also). (In later examples some might be owned by the other shareholders of the subsidiary and the amount is shown separately as the non-controlling interest).
Why does the $10000 disappear?
The internal transactions between the parent and subsidiary should not be mentioned in the consolidated statement.
@@vikaschenna3274 I believe, the cost of investment is the consideration used to purchase the identifiable assets and liabilities of the subsidiary. Thus, control gained adds the assets and liabilities on a line by line basis, thus the cost of investment is eliminated.