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Summary CONSOLIDATION AFTER DATE OF ACQUISITION

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Contains intragroup transactions, intragroup inventory and intragroup PPE

Institution
University Of Pretoria (UP)
Course
FAC 3704 – Group Financial Reporting








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Institution
University of Pretoria (UP)
Course
FAC 3704 – Group Financial Reporting
All documents for this subject (4)

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Uploaded on
May 13, 2016
Number of pages
11
Written in
2015/2016
Type
Summary

Subjects

  • consolidations
  • consolidation after date of acquisition

Content preview

FAC 3704
GROUP FINANCIAL REPORTING
LEARNING UNIT 2: CONSOLIDATION AFTER DATE OF
ACQUISITION



BASIC CONSOLIDATION PROCEDURES
STEP ONE: STEP TWO: STEP THREE:
CONSOLIDATE ALL ELIMINATE ELIMINATE
INTRAGROUP
ITEMS COMMON ITEMS
ITEMS



STEP ONE:
CONSOLIDATE ALL ITEMS

Combine the separate financial statements on the subsidiary and the parent so they become
one consolidated financial statement of the group.



EXAMPLES:
1. Statement of Financial Position


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I often find that i neva completely cover any scope for any test in its entirety. Because of this, no matter how prepared i am for other sections, any uncovered or insufficiently covered chapters always come back to strangle me!!! For me, preperation begins with a gud summary so thanku Stuvia for the opportunity to share notes online.

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