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ACCA F7 - Financial Reporting Workbook Notes For Grade A
ACCA F7 - Financial Reporting Workbook Notes For Grade A
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F7 Workbook Q & A www.mapitaccountancy.comACCA F7 - Financial
Reporting
Workbook
1
,F7 Workbook Q & A www.mapitaccountancy.com
Group Accounts
2
,F7 Workbook Q & A www.mapitaccountancy.com
Illustration 1
Almeria Murcia
Non Current Assets
Tangible 100 100
Investment in Murcia 300
Current Assets
Inventory 40 200
Receivables 60 100
Cash 200 200
700 600
Ordinary Shares 160 100
Accumulated Profits 240 200
Equity 400 300
Non Current Liabilities 100 200
Current Liabilities 200 100
700 600
Additional Information
Almeria today acquired all the shares in Murcia for $300m.
The Fair Value of the NCI at acquisition was 0.
Required
Prepare the consolidated statement of financial position for the Almeria group
3
, F7 Workbook Q & A www.mapitaccountancy.com
Pro-Forma
Working 1 - Group Structure
Almeria
Murcia
Date Acquired
Parent Share
NCI
Working 2 - Equity Table
At Acquisition At Year End
Share Capital
Accumulated Profits
Working 3 - Goodwill
Cost of Parent Investment
Fair Value of NCI at acquisition
Less net assets at acquisition (W2)
Goodwill
4
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