Consolidation Parentis ACCA June 2007. Step 1 Copy out the question PSAdjustmentsConsolidated PPE640340 Investments1200 Int Property030 Inventory7622.

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Presentation transcript:

Consolidation Parentis ACCA June 2007

Step 1 Copy out the question PSAdjustmentsConsolidated PPE Investments1200 Int Property030 Inventory7622 Receivables8444 Bank

Step 1 Copy out the question PSAdjustmentsConsolidated Equity Ret Earnings % Loan12020 Payables13057 Tax4523 Overdraft

Consolidation Format- Goodwill  What did we pay? What did we get?  Date 1 April 2006  Acquired 600m shares, =75%  Paid 300x 0.75= 225m  Deferred payment 0.11x 1/1.1 x 600m= 60m  Loan stock 600m/ 500x $100= 120m  Total paid $405

Consolidation Format- Goodwill  Paid $405m + NCIs $125m = $530m  Received  Shares 200m  Retained earnings = 120m  Fair value adjustments = $40m (note 1)  Goodwill = = 170 on acquisition

Consolidation Format- Retained Earnings On Acquisition31 March 2007 Share Capital200 Retained Earnings Fair value adjustment40 Depreciation(2) Intellectual Property(20) Interco Profit(2) Total360356

Consolidation Format- Retained Earnings  P = 300  Goodwill Impairment 40x 75%= (30)  Discount unwinding 600m x 10% x10%= (6) (Debit is in finance costs) S post acq ( )x75%= (3) Total 261

Consolidation Format- NCI Value at acq125 Goodwill Impairment(10) Post acq REs(1) Total114

PSAdjustmentsConsolidated PPE Investments Int Property Goodwill Inventory Receivables Bank

PSAdjustmentsConsolidated Equity Share Premium 300mx Ret Earnings % Loan Payables Cash due66 Tax Overdraft NCIs