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RETAINED PROFITS BROUGHT FORWARDIf we recall from the consolidated balance sheet, the group-retained profits should be made up of the holding companies retained profit plus the holding companie’s share of subsidiary companies post acquisition retained profits. The same case applies to computing the retained profits brought forward of the group. The group-retained profits brought forward should be made up of the holding companies retained profit brought forward plus the holding companie’s share of subsidiary companies post acquisition retained profits brought forward.But we have to make adjustments to the holding companies retained profits brought forward and the subsiairy company’s profits before we get the holding companies sher. The adjustments are for transactions that took place previously that affect the profits of these two companies.The holding companies retained profits brought forward will therefore be adjusted as follows:
£
Holding companies retained profit brought forward
X
Add: Excess depreciation charged by holding company up to start of the year
x
Less : Unraelised profit on opening inventory if holding company had made the sale
Goodwill impaired to date (up to the start of the yaer)
Unrealised profit on sale of PPE in previous years if holding co. made the sale
(x)
Holding companies retained profit b/f adjusted for conslidation
The subsidiaries profits brought forward will be adjusted as follows before the holding company takes its share:
Subsidiary companies retained profit brought forward
Add: Excess depreciation charged by subsidiary company up to start of the year
Less : Unraelised profit on opening inventory if subsidiary company had made the sale
Depreciation on Fair value adjustment that should have been charged to date
Subsidiary company’s retained profit b/f
Differences in Inter company balances i) Cash in transit Where one company may have sent cash which is yet to be received by the other company as at the end of the financia
I have a presentation on an article (around 20 pages). I also need 2 current real life examples (2 companies) to support the presentation. Can you do that? How long it will take yo
FORMAT FOR BALANCE SHEET The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship. However, the “capital sect
The principle that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash and (3
For getting the EOQ formula we shall use the subsequent symbols: U = annual usage/demand Q = quantity ordered F = cost per order C = per cent carrying cost P = pric
Appointment of Liquidator The liquidator is appointed by the court after the above meetings have been held: if the meetings do not agree, the court must settle the issue: if no a
A company is necessary by law to offer an issue of new equity finance on a pro-rata basis to its existing shareholders. This makes sure that the existing pattern of ownership and c
Q. What is basic defination of FCA? Yes. FCA is a method of accounting for all financial costs of funds used or committed for municipal solid waste (MSW) services. FCA suggests
What are some critics by individuals and professional bodies in this joint project?
A summary of Jarvis Company's December 31, 2013, accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group: Age Gro
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