Groups Flashcards
Under the proportionate NCI calculation - what amount gets split to the NCI?
None as the impairment share only gets split to the parent
What is the definition of an associate?
Significant power in the associate but not control or joint over those policies
Joint arrangements - what is this?
Where two or more parties have joint control and unanimous consent to make decisions about relevant activities
What is a joint operation?
Where the controlling parties have the rights to assets and obligations for the liabilities relating to the arrangements
What is a joint venture?
Where the arrangement jointly controls the parities right to the net assets
Joint venture - how is this accounted for within the consolidated accounts?
Under the equity method the same way as an associate
Step acquisition within a group is a transaction between?
This is treated as a transaction between shareholders only
Transaction between group shareholders, does this get disclosed?
No
