ہوم / مشق / اے سی سی اے / مالیاتی اکاؤنٹنگ / H Preparing basic consolidated financial statements
8 سوالات: اے سی سی اے مالیاتی اکاؤنٹنگ، جوابات اور وضاحت کے ساتھ۔
جوابی کنجی کے ساتھ قابلِ پرنٹ ورک شیٹ
P owns 60 percent of the voting shares of S and has the power to direct its activities. How is S treated in P's group accounts?
درست جواب: As a subsidiary, consolidated line by line
Control makes S a subsidiary, so 100 percent of its assets and liabilities are consolidated.
P paid $500,000 for 80 percent of S. The fair value of the non-controlling interest was $120,000 and the fair value of S's net assets at acquisition was $560,000. What is goodwill?
The non-controlling interest in S was valued at $90,000 at acquisition. S has made $40,000 of profit since acquisition and the NCI owns 25 percent. What is the NCI at the reporting date?
P sold goods costing $600 to S for $900. Half are still held by S at the year end. What is the unrealised profit to remove?
درست جواب: $150
Profit = $300. Half remains unsold in the group, so $150 is unrealised.
How are intra-group receivables and payables dealt with in the consolidated statement of financial position?
An investor owns 30 percent of the voting shares of an investee and has significant influence. How is the investment accounted for?
درست جواب: Using the equity method
An associate is accounted for under the equity method.
P has revenue of $1,000 and S has revenue of $400. During the year P sold goods to S for $100. What is consolidated revenue?
درست جواب: $1,300
Intra-group sales are removed: 1,000 + 400 - 100 = 1,300.
S was acquired part way through the year. How is S's profit for the year included in the consolidated statement of profit or loss?
درست جواب: Only the profit earned after the acquisition date is included
The group controls S only from the acquisition date.