Summary
Summary Group Statements Volume 1 Chapter 4
- Course
- Accounting 200
- Institution
- University Of Johannesburg (UJ)
Accounting for basic groups including NCI and Fair value
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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Interim dividend only recognised if paid as it can be withdrawn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
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