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INCOME STATEMENTa) Ignore the sales, cost of sales and the expenses of the associate company. However, premium or goodwill arising on acquisition of associate company should be computed the normal way as that of the subsidiary company incase of any impairment, then it should be included in the investing company’s expenses.
b) The investing company should report its share of profit before tax in associate company as part of other incomes and its hare of tax in associate company as part of its income tax expense. Alternatively, the investing company can show its share of profit after tax in associate company as other incomes.c) Just like in subsidiary companies the retained profits b/d of the investing company will be made up of the investing company’s retained profits b/d of the associate company. Adjustments for previously impaired goodwill or premium should be made at this stage.
International Accounting Standards Committee, the (IASC) - is an independent private sector body, formed in 1973, with objective of harmonizing the accounting principles that are u
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We consider two identical firms that produce the same good. The demand for that good is the function D(p) = 1 - p where p is the unit price. Firms incur no cost. The competition
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notes on 5 modern accounting techniques
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Tom Scott is the owner, president, and primary salesperson for Scott Manufacturing. Because of this, the company's profits are driven by the amount of work Tom does. If he works 40
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Profits in subsidiary company The remaining profits that belong to the holding company should be split between pre-acquisition profits and post acquisition profits. The pre
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