dfs dec 08

taskey
taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
in AAT Level 4 (Level 8 in Scotland)
q 1.3

attempting to do the consolidated sofp for tolsta - but my goodwill is working out wrong.

i cannot fathom how they have worked out the "attributable to holding company" figures.

Please help

thanks

Tracy

Comments

  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
    anyone?
  • crispy
    crispy Registered Posts: 467 Dedicated contributor 🦉
    Ill have a look over lunch :) Pls bear with me
  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
    crispy wrote: »
    Ill have a look over lunch :) Pls bear with me

    cool thanks, i have gone onto another paper so no rush
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
    What percentage have you proportioned to the holding company. I think if you have rounded it up that is where you will be going wrong. I'm pretty sure I had this problem. So it would be 66.66.

    If you used 67 % and put a note then you would probably be ok.
  • crispy
    crispy Registered Posts: 467 Dedicated contributor 🦉
    Have attached (or think I have) my attempt,

    Have not seen answers but all balances so should be ok.
  • crispy
    crispy Registered Posts: 467 Dedicated contributor 🦉
    Try Again....:)
  • Rachey
    Rachey Registered Posts: 589 Epic contributor 🐘
    Esme wrote: »
    What percentage have you proportioned to the holding company. I think if you have rounded it up that is where you will be going wrong. I'm pretty sure I had this problem. So it would be 66.66.

    If you used 67 % and put a note then you would probably be ok.

    I attended the revision day with Steve Collings on Saturday and he mentioned this paper to us. He said the examiner had used 66.667% however we were meant to turn into a fraction of 2/3.

    Hope this helps.

    Cheers
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
    Yeah, that's right.. I knew it was some rounding issue.
  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
    thanks all, will have another look at that. so i should divide the amount of shares bought by the share capital in the subsidary? i think that is where i am going wrong, i am using the goodwill % to divide things by DUH!!

    will have another go

    Tracy
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
    You have to see what percent of the shares the parent company owns. I do (100/ Total amount) x amount parent owns. You then apportion the reserves and revaluation by this percentage.

    If you look at a thread I started called 'DFS Consolidated Accounts and Goodwill' Clare Fitch outlines in detail how to work out the Goodwill on these papers, that is how I learnt it.
  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
    thanks Esme, i have printed it out and see how i get on

    Tracy

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