Group Accounts Further Aspects Flashcards
Consolidated SPL, Non-controlling Interest.
1
Q
What adjustments are made for the Consolidated SPL?
A
1. Intragroup items
2. Non-controlling Interest
2
Q
What is the double entry for any intragroup sales at a profit where the inventory is still held?
A
Dr Cost of Sales
Cr Inventory
3
Q
What is the calculation for the element of profit that belongs to the shareholders Non-Controling Interest (NCI)?
A
Subsidiarys Profit (after tax) X NCI (%) = Profit belonging to NCI
4
Q
What is the calculation for the element of profit that belongs to the non-controling shareholders interest if there is PUP adjustment?
A
Subsidiarys profit (after tax and PUP Adjustment) X NCI (%)
