Summary
Summary Group Statements Volume 1 Chapter 4
- Course
- Institution
Accounting for basic groups including NCI and Fair value
[Show more]
Seller
Follow
sjg2797
Reviews received
Content preview
Chapter 4 Consolidationafter Acquisition Date
Added procedure
Determine which items are common after acquisition date
Distributable profits in group control
Purchased profit not distributable, part of equity bought
Post-acquisition profits distributable once distributed as dividend by S
Investment in sub
Carried at FV usually through OCI
All FV adj must reversed to return inv to cost
Dr M-M SFP xxx Reverse past adj
Cr Inv in Sub xxx
Dr M-M OCI xxx Reverse this year’s adj
Cr Inv in Sub xxx
Intragroup Dividend
Must be eliminated as cannot declare dividend to self, but portion will be
recognised as belonging to NCI
Dr Other Income (p)
Cr Dividend Declared (s)
Interim dividend only recognised if paid as it can be withdrawn
***Where gain on bargain exists at acquisition add to RE beginning and end of period
as only created on consolidation
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller sjg2797. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.84. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now