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Minority interest (MI)When the holding company owns less than 100% of the ordinary share capital of the subsidiary company then the other balance is held by minority interest. Therefore if the holding company owns 80% of the ordinary share capital of the subsidiary then the minority interest owns 20%. The minority interest (M.I) should be shown separately in the consolidated balance sheet but as part of shareholders funds and the figure to appear in the balance sheet will be made up of the following.-Minority interest share of the ordinary share capital in subsidiary on balance sheet date-Minority interest share of capital reserves in subsidiary company on balance sheet date-Minority interest share of revenue (retained profits) in subsidiary company on balance sheet date.Alternatively, the total due to the minority interest can be prepared by opening the Minority Interest account whereby the Minority interest’s share of the osc, capital reserves and retained profits in subsidiary company is posted to the credit side.
American Institute of Certified Public Accountants (AICPA) - National professionalmembership organization which represents practicing CERTIFIED PUBLIC ACCOUNTANTS(CPAs). AICPA esta
Define reasons that influence a firm's degree of transaction exposure? What reasons influence a firm's degree of ‘transaction exposure' in a certain currency? For each reason d
need and important of final account
In February, one of Team Shirts' best customers went bankrupt owing team shirts $85. Team shirts uses the sales method for estimating bad debts. February sales were $15,000. The ac
Question: (a) ‘Public accounting is often called fund accounting'. Describe what you understand by the term ‘fund accounting'. (b) "What's the difference between nation
The discount rate used must normally reflect the weighted average cost of equity and debt taking into account the systematic risk of the investment. A company's weighted average co
Harry purchased equipment for his business and gave the seller cash and a note due in two years. Larry also purchased business equipment, but financed the transaction with a bank l
features of branch accounts
case laws
For this assignment you are acting as a financial analyst for Apple Inc. Apple Inc. Is one of the most innovative companies worldwide. For example, in November 2012 Apple sold 3 mi
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