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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.
After going through this section, you must be capable to: - Identify the time value of money; - Know what gives money its time value; - Identify
WILLS A will is the legal declaration by a person of his wishes or intentions regarding the disposition of his property after his death, duly made and executed according to the p
what is ex interest accounting,uses,types
Indicate how each of the following transactions affects the accounting equation. a.Purchase of supplies on account. b.Payment of wages. c.Cash sale of goods for more than their cos
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Deferred taxation is caused by timing differences that arise when a transaction is recognized differently for accounting and tax purposes; for i.e, capital expenditure, that invol
$in million Pepsi Coca cola Net cash provided by operating activities $6,796 $8,186 Average current liability 8,772 13,355 Average total liability 22,909 21,491
Disclaimer The liquidator may disclaim onerous property consisting of: 1. Land burdened with onerous covenants; 2. Stocks and shares; 3. Unprofitable contracts, or 4.
A Company policy calls for keeping safety-stock equal to 25% the forecasted demand for that month. The company currently has a work force of 12 people. It takes a worker 3 hours
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