CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND ASSOCIATES
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND ASSOCIATES Learning Objectives Introduction The Basic Principles for Consolidating the Statement of Profit or Loss Non-Controlling Interest Intra-Group Trading Mid-Year Acquisitions IAS 28 Investments in Associates and Joint Ventures Trading with the Associate ………………………………………………………………………………………….. I. Introduction The consolidated statement of profit or loss presents the financial performance of all group entities (i.e.
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION LEANRING OBJECTIVE 1. What is group? 2. Requirement to prepare consolidated financial statement 3. The basic method of preparing a consolidated statement of financial position 4. The mechanics of consolidation 5. Goodwill 6. How to include fair value in consolidation workings ………………………………………………. I. What is a group? A group exists where on entity, the parent,
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Question : On 1 April 2015, Para acquired 70% of Sunna’s equity shares paying $205,800. The summarized statements of financial position of the two companies at 31 December 2015 are: Para Sunna Note $’000 $’000 Non-Current Assets Property, Plant and Equipment 200 230 1 Investments 256 10 2 456 240 Current Assets Inventory 30 34 3
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