In what circumstances would anentity consolidate

Assignment Help Financial Accounting
Reference no: EM13501830

Question

In short-answer format(ie.thisdoes not have to be presented in the form of an essayor formal report), and with reference to the relevant accounting standard(s), answerthe following questions:

What is a non-controlling interest, and how is a non-controlling interest disclosed in consolidated financial statements?

If Nat acquires a 60% interest in West, on consolidation which elimination entries should be done at 60% and which should be eliminated at 100% (if any)?Why? In the consolidated financial statements of the group will the assets and liabilities of West be shown at 60% or 100%? Why?

In what circumstances would anentity consolidate the financial statements of an entity in which it owned no shares?

Explain in your own words, using a diagram if you wish, the concept of an indirect non-controlling interest.Does the existence of an indirect non-controlling interest have any impact on the adjustments for intra-group transactions?Why or why not?

 

Reference no: EM13501830

Questions Cloud

What is the density of the plastic : A 42-g ball consists of a plastic spherical shell and a water-filled core. the shell has an outside diameter equal to 56.2 mm, What is the density of the plastic
Define total concentration of butyric acid in a water sample : The total concentration of butyric acid (TOTBt) in a water sample is 1,000 mg/L as HBt and the pH = 5.5. What is the concentration of HBt in this water in mg/L? The following may be useful in solving this problem: HBt ? H+ + Bt- pKa = 4.82
Explain actual chemical manufacturing processes : Give two reasons why a 100% yield is not obtained in actual chemical manufacturing processes.
Explain devise two pathways by which you could combine : Devise two pathways by which you could combine other reactions toproduce the same product as the anti hydrogenation of a starting cis alkene.
In what circumstances would anentity consolidate : Explain in your own words, using a diagram if you wish, the concept of an indirect non-controlling interest.Does the existence of an indirect non-controlling interest have any impact on the adjustments for intra-group transactions?Why or why not?
Estimate the depth of the shaft : In an experiment performed at the bottom of a very deep vertical mine shaft, a ball is tossed vertically in the air with a known initial velocity of 10.0 m/s, calculate the depth of the shaft
Evaluate the initial molarity of ba(oh)2 and the molarities : Calculate the initial molarity of Ba(OH)2 and the molarities of Ba2+, OH -, and H3O+ in an aqueous solution that contains 0.38 g of Ba(OH)2 in 0.123 L of solution.
Prepare a consolidated statement of financial position : Prepare the journal entries necessary for the preparation of consolidated financial statements.Prepare a consolidated statement of financial position as at 30 June 2012.
Evaluated the ph after hydrochloric acid solution are added : Household ammonia, NH3 is a weak base. 10.00mL of ammonia was titrated with 0.1683 mol/L HCL 22.74 mL was required to reach the equivalence point. Calculated the PH after 0.00mL, 6.52mL, 11.37mL, 28.28mL, of hydrochloric acid solution are added.

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  What pattern of return on equity is implied

net profit margins and working capital to sales ratios stay constant." What pattern of return on equity is implied by these assumptions? Is this reasonable?

  Discuss how primes net income could decline

Discuss how Prime's net income could decline between Year 6 and Year 8 while its cash flow from operations increased and discuss how Prime's net income could increase between Year 8 and Year 10 while its cash flow from operations decreased.

  Purpose general journal entries to record the transactions

Purpose general journal entries to record the above transactions.

  Explain tests that you would perform to test the correctness

Explain tests that you would perform to test the correctness of pricing of raw materials, work in progress, and finished goods. Determine the amount of projected population misstatement based on your sample.

  Prepare a reconciliation schedule to reconcile 2011

Prepare a reconciliation schedule to reconcile 2011 net income and December 31, 2011 stockholders 2019 equity from a U.S. GAAP basis to IFRS. Ignore income taxes. Prepare a note to explain each adjustment made in the reconciliation schedule.

  Compute the past service costs included net pension

Calculate the past service costs included in 2012 net pension expense (or revenue) under IAS 19. Compute the past service costs included in 2012 net pension expense (or revenue) under U.S GAAP.

  Prepare an acquisition analysis

Prepare an acquisition analysis and the consolidation journal entries necessary to prepare consolidated accounts for the year ending 30 June 20x4 for the group comprising Tien Ltd and Chai Ltd.

  How technology has influenced price-setting practices

Explain how technology has influenced price-setting practices and explain the role of the management accountant in ensuring that optimal price setting strategies are implemented.

  What are the disadvantages of avco method

What are the disadvantages of AVCO method and which of them is better, FIFO or AVCO and, if there is any odd results, could you explain why?

  Express it project description

You are given information about Doha Company which is a service company located in Qatar. You are expected to analyze, record and communicate that information by using Microsoft Excel.

  Depreciation affect gain or loss on sale of the plant asset

How would using the sum-of-the-years'-digits method of depreciation instead of the double-declining-balance method of depreciation affect a gain or loss on the sale of the plant asset?

  Prepare a schedule showing a vertical analysis for 2009

Prepare a schedule showing a vertical analysis for 2009 and 2008 and Prepare horizontal analysis.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd