3 Consolidated Statement of Profit or Loss

Question 1

When do you apportion the accounts?

Answer 1

When it is a mid year acquisition, only had control over the profits x months in. Never apportion based on the amount of ownership, that is balanced at the bottom

Question 2

What must be cancelled?

Answer 2

Any intragroup activities, dividends or interest

Question 3

Is the NCI included?

Answer 3

No never add the NCI as do not control it