Yesterday we stayed on Chapter 5 , but looked at a consolidation where Parent was using the Equity method to record its investment. Under the Equity method you are provided a “check figure” as Parent’s
As promised you would have noticed a huge leap in difficulty this week and from this point the difficulty grows exponentially. This week we looked at consolidating an income statement and retained earnings in addition
This week we continued with consolidations at the date of acquisition except we looked at where the acquirer obtained control but owned less than 100%.
In this scenario we must account for the Non-Controlling Interest on