In this accounting lesson, we go through an example where we complete:
1) Consolidated Statement of Profit or Loss (Consolidated Statement of Comprehensive Income)
2) Consolidated Statement of Financial Position
We address issues such as:
1) Intra-group sales: 08:01
2) Unrealised profit: 12:52
3) Negative goodwill (Bargain purchase): 25:26
4) Equity investments in consolidation: 43:35
5) Group Retained Earnings: 48:49
We also look at contingent consideration, non-controlling interest, fair value adjustment on PPE, net assets at acquisition..
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