Workings of Consolidated Financial statements
1. Group structure
P Ltd
80% Share acquired by P ltd.
Subsidiary (S Ltd)
2. Calculation of net
Assets of Subsidiary (S ltd).
|
Particulars |
At year end |
At Acquisition date |
Post acquisition date |
|
Share Capital |
****** |
****** |
******* |
|
Retained Earnings |
****** |
****** |
******* |
|
Total |
****** |
******** |
******* |
3. Calculation of Goodwill
|
|
|
|
Consideration Transferred |
***** |
|
Plus: Non-Controlling Interest at acquisition (Based on w2) |
***** |
|
Less: Net assets at acquisition (Based on w2) |
(*****) |
|
|
***** |
|
Impairment to date |
(*****) |
|
Balance C/F |
***** |
The double entry to
consolidate the subsidiary will be:
Share of Subsidiary’s net assets Dr *****
Goodwill Dr ****
Investment in subsidiary Cr ****
4. Calculation of
Non-controlling Interest (NCI) at year end.
|
Particulars |
Amount |
|
At acquisition (NCI % x net assets based on w-2) or Fair Value |
***** |
|
Share of Post-acquisition profits and other reserves (NCI% x Post –acquisition |
***** |
|
|
****** |
5. Calculate retained
Earnings
|
Particulars |
Amount |
|
P Ltd (100%) |
***** |
|
S Ltd. (Share of post-acquisition retained earnings (Based on w-2) |
***** |
|
Goodwill Impairment to date (based on w-2) |
(****) |
|
Group Retained Earnings |
****** |
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