CONSO SOFP - CHAPTER 10.docx

8/18/2019 CONSO SOFP - CHAPTER 10.docx

1/23

CHAPTER 10

CONSOLIDATED STATEMENT OF FINANCIAL POSITION – ACQUISITION METHOD

1. Calculating pa!nt"# p!c!ntag! $% &$l'ing in #u(#i'ia)

• When calculating the parent’s percentage of holding in a subsidiary, the number of

ORDINARY shares held by the parent is divided by the total units issued by the

subsidiary

• When calculating it is important to determine the !AR value of the shares so the

correct number of units can be calculated

• "he balance of ordinary shares not o#ned by the parent #ould be o#ned by non$

controlling interest ie party or parties that have interest in the subsidiary company butdo not have control over the company

*. Calculating g$$'+ill

• I%R& ' re(uires good#ill be calculated on the date a company becomes a subsidiary

of another ,Dat! $% ac-ui#iti$n

• "he basic formula of computing good#ill is)

C$n#i'!ati$n tan#%!!'A'' N$n/c$nt$lling int!!#tL!## Fai alu! $% n!t# a##!t# ,#u(#i'ia)$$'+ill 2 ,(again puc&a#!

• *onsideration transferred is the payment made to ac(uire the subsidiary It can be in

the form of )$ *ash payment$ +(uity$ iability$ %uture payments -must be discounted to date of ac(uisition.

• %air value of net assets can be calculated either by

$ %/ of Assets less %/ of liabilities OR$ +(uities -ad0usted for fair value.

R!%! t$ g$$'+ill calculati$n +$3#&!!t

Full illu#tati$n

1


2/23


3/23

R2’444*onsideration transferred -=44744'44. 3,444ess. %air value of net assets)Ordinary &hare capital 544Retained earnings 744%/$ ad0ustments -properties. 344%/$ ad0ustment -patents 9 licenses. 744 -844.Bood#ill 344

OR

R2’444*onsideration transferred -=44744'44. 3,444ess. %air value of net assets)!roperties -544344. =44!lant 9 machinery 744

*urrent Assets '44!atents 9 licenses 744ong term liabilities -744.*urrent liabilities -344. -844.Bood#ill 344

7OURNAL *

Cournal entries to effect consolidation ad0ustments)

DR properties 344

DR !atents 9 licenses 744

*R Revaluation reserves '44

-to ad0ust assets of subsidiary to their fair values.

7OURNAL 5

DR Ordinary share capital of & 544

DR Revaluation reserves of & '44

DR Retained profits of & 744

DR Bood#ill on combination 344

*R Investment in & 3,444

-to eliminate cost of investment against share capital and pre$ac(uisition reserves.

sing the modified &O%! the consolidation is prepared as follo#s)

T&! c$n#$li'at!' SOFP can (! i!+!' a# %$ll$+#8

! R2’444 & R2’444 Wor>ings *onso

3


4/23

Ordinary share capital 3,744 544 3744544$544 3744

&hare premium '44 nil '44 '44

Retained profits 644 744 644744$744 644

ong term liabilities '44 744 '44744 =44

*urrent liabilities 344 344 344344 744

"O"A 7,=44 844 7E44

Investment in & 3,444 3444$3444 4

Bood#ill 344 344

!atents 9 licenses 744 744

!roperty 3,444 544 3444544344 3=44

!lant and e(uipment '44 744 '44744 =44

*urrent assets 744 '44 744'44 =44

"O"A 7,=44 844 7E44

Items in red has been used in calculating good#ill and therefore eliminated inconsolidation

N$t!8

"here are cases #here Fthe fair value of net assets 1 ac(uisition date G

consideration transferred and non$controlling interest "his #ill result in bargain

purchase or sometimes >no#n as Fnegative good#ill %or presentation purposes,

bargain purchase is accounted for in retained earnings of parent company "his #ill

Herorise the Fbargain purchase account and +ill n$t be presented in *onso &O%!

as a separate line item

Att!4pt calculat! t&! g$$'+ill (alanc!# %$4 t&! -u!#ti$n# in C&apt! 10.

CONSOLIDATIN POST ACQUISITION DATE

2ost often, the parent company is re(uired to prepare the consolidation after the

ac(uisition date "his #ill result in t#o types of reserves for the &J&IDIARY ie)

4


5/23

3 !re$ac(uisition reserves -balances of retained earnings, general reserves and

revaluation reserves 9EFORE the ac(uisition date.

7 !ost K ac(uisition reserves -balances of retained earnings, general reserves and

revaluation reserves AFTER the ac(uisition date.

As sho#n in the earlier e@ample, the pre$ac(uisition reserves belonging to the

&J&IDIARY must be eliminated #hen consolidating -refer 0ournal '.

R!%! t$ p!/ac-ui#iti$n !#!!# a':u#t4!nt +$3#&!!t

Full Illu#tati$n

T&! SOFP $% P an' S a# at 51.1*.*061 a! a# %$ll$+#8

Pa!nt ,P

RM"000

Su(#i'ia),S RM"000

Ordinary share capital 1R23 par 3,'44 744

&hare premium nil 3=4

Revaluation reserve 344 =4

Retained profits :44 '44

ong term liabilities '44 744

*urrent liabilities 744 374

"O"A 7,644 3,474

!roperty 3,744 'E4!lant and e(uipment 7E4 '74

*urrent assets 3,374 '74

"O"A 7,644 3,474

On 3374;3, ! ac(uired 84< of the ordinary shares belonging to & by paying

R2=44,444 in cash and issuing 744,444 of !’s ordinary shares #ith mar>et value of

R27=4 on date of ac(uisition "he retained earnings of & at the date of ac(uisition is

R2744,444 Other reserves remain unchanged

SOLUTION

"he 0ournal entries for the above changes are as follo#s)

5


6/23

7OURNAL ;

In !’s boo>s 1 ac(uisition date

DR Investment 3,444,444

*R *ash =44,444

*R Ordinary shares -744,444 @ R2344. 744,444

*R &hare premium -744,444 @ R23=4. '44,444

STEP 18 Calculating g$$'+ill

*onsideration transferred 3,444,444

Add. N*I -34< @ %/NA. 64,444

ess. %air value of net assets of &)

$. Ordinary share 744,444

$. &hare premium 3=4,444

$. Revaluation reserve =4,444

$. Retained earnings 744,444 -644,444.

BOODWI 564,444

STEP * 8 P!paing t&! a':u#t4!nt %$ p! an' p$#t/ac-ui#iti$n !#!!#

RM"000 NCI ,10


7/23

A##!t# ,RM"000

Bood#ill 564

!roperty

!arents -3,744.

&ubsidiary -'E4. 3,=E4

!lant and e(uipment

!arents -7E4.

&ubsidiary -'74. 644

*urrent assets

!arents -3374$=44.

'74 854

T$tal A##!t# 5=>?0

E-uiti!# @ lia(iliti!#

Ordinary share capital !arent ONY -3,'44744.

&ubsidiary $ eliminate

3,=44

&hare !remium

!arent -'44.

&ubsidiary K eliminate

'44

Retained earnings :84

Revaluation reserve 344N*I :4

ong term liabilities

!arent -'44.

&ubsidiary -744. =44

*urrent liabilities

!arent -744.

&ubsidiary -374. '74

T$tal E-uiti!# @ Lia(iliti!# 5=>?0

NON/CONTROLLIN INTEREST

7


8/23

In many cases, subsidiary is not held #holly by the parent company %or instance subsidiary

& consists of E4< shareholding by parent and the remaining 74< is o#ned by other

partyLparties "he other party is >no#n as Fnon$controlling interest -N*I. or sometimes

>no#n as Fminority interest One of the method used to determine N*I is, N*I is

proportionate to the fair value of net assets belonging to the subsidiary sing this method

#ill result in patial g$$'+illM good#ill is only calculated for the parent

Another method used is N*I is based on fair value of shares held #hereby good#ill

calculated using this method is %ull g$$'+ill nder this method, good#ill is calculated for

both parent and N*I

In preparing consolidated &O%!, N*I must be sho#n as a separate line item "he calculation

of N*I includes N*I balance 1 ac(uisition date, its share of post$ac(uisition reserves and

preference shares belonging to the subsidiary not o#ned by the parent

Ea4pl! 18 T&! %$ll$+ing a! t&! SOFP# $% P an' S a# at 51.1*.6*

Pa!nt ,P

RM"000

Su(#i'ia),S RM"000


&hare premium 744 3=4

Retained profits E44 '=4

!reference shares 1 R23 par 374 344



"O"A 7,874 3,374

!roperty 3,744 =44!lant and e(uipment 644 '44


"O"A 7,874 3,374

! ac(uired E4< of & on 3374;3 #ith cash consideration of R2=44,444 payable on the

ac(uisition date ! also purchased 74< of preference shares belonging to & #ith a cash

consideration of R274,444 &’s retained earnings on that date amounted to R23=4,444

Other reserves remain unchanged

"he ad0usting entries are as follo#s)

DR Investment K ordinary shares =44,444

*R *ash =44,444

DR Investment K preference shares 74,444

*R *ash 74,444

SOLUTION

8


9/23

St!p 1 8 $$'+ill calculati$n

*onsideration transferred =44,444

. N*I -=44,444 @ 74


10/23


!arent -'44.


*urrent liabilities

!arent -744.


T$tal E-uiti!# @ Lia(iliti!# 5=*0

N*I calculated in the above e@ample is calculated as proportionate to its share of fair value

of net assets When using this method, good#ill is only calculated for the parent company

only "his method is >no#n the Fpatial g$$'+ill method

Another method of calculating N*I is based on fair value of shares held "he good#ill

calculated using this method is for both parent and N*I "o calculate N*I and good#ill using

this method re(uires the share price of subsidiary on the date of ac(uisition

sing the same e@ample above, #e add e@tra information as follo#s)

On the date of ac(uisition the mar>et value of !’s ordinary share #as at RM5.002#&a!

sing this information, the N*I 1 ac(uisition can be calculated as -744,444@ 74t price of &’s shares on ac( date ? R2'74

"herefore N*I based on %/ of shares held ? =4,444 @ R2'74 ? R2364,444

sing this N*I #ill result in FULL OODILL

Qu!#ti$n t$ att!4pt8

10


11/23

! ac(uired E4< of ordinary shares belonging to & on '337;= by issuing 64,444 units of its

o#n ordinary shares "he retained earnings of & on that date #as R2=6,444 "he follo#ing

is an e@tract of &O%! for ! and & 1 '337;E)

P ,RM S ,RM

Ordinary shares 1 R23 par 7,444,444 344,444

&hare premium 3=4,444 74,444

Retained earnings 3,5=E,744 E:,444

iabilities E84,644 66,'44

Ma3!t pic! %$ $'ina) #&a!#

P ,RM S ,RM

1 '337;= '74 7=4

1 '337;6 '64 754

1 '337;: '3= 77=

1 '337;E '44 7'4

Determine FULL OODILL

IMPAIRMENT OF OODILL

11


12/23

Bood#ill is impaired not amortised

Bood#ill can be impaired subse(uent to ac(uisition date Bood#ill impairment is a reduction

in the value of assets and therefore need to be charged to retained earnings

As #e have learnt, good#ill can be calculated using the partial or the full method "he

impairment of good#ill to retained earnings is dependent on #hether good#ill is calculated

as partial good#ill of full good#ill

%or partial good#ill, all impairment #ill be charged to the group’s retained earnings %or full

good#ill, the impairment needs to be allocated to N*I and group retained earnings in

accordance to its share of shareholding

Ea4pl! 8 I4pai4!nt a':u#t4!nt %$ patial g$$'+ill

NCI ,50


13/23

%air value accounting is no# an important element in reporting %air value of assets and

liabilities can e@perience an increase or a reduction in value %or consolidation purposes all

fair value ad0ustments must be accounted for unless specifically stated other#ise Joth

parent and subsidiary assets can be revalued up#ards or do#n#ards "he treatment of fair

value ad0ustment for subsidiary pre$ac(uisition and post$ac(uisition is different

Fai alu! c&ang!# %$ n$n/'!p!cia(l! a##!t#

"reatment for fair value changes at the date of ac(uisition)

and belongs to Joo> /alueL*arrying

value 1 Ac(uisition

date

%air /alue 1

Ac(uisition date

%air /alue

*hanges

&ubsidiary R2'44,444 R25=4,444 R23=4,444

!arent R23,444,444 R23,=44,444 R2=44,444

%or subsidiary)

DR Non$ *urrent Assets 3=4,444

*R Revaluation Reserve 3=4,444

-!lease ta>e note that this fair value change too> place 1 ac(uisition date and therefore is

considered as revaluation reserve balance 1 ac(uisition "herefore R23=4,444 is used in

calculating good#ill and #ill not be sho#n as RR in consolidated accounts.

"he good#ill calculation can be vie#ed as follo#s)

*onsideration transferred ;;

. N*I ;;

$. %air value of net assets)

Ordinary shares ;

Retained earnings ;

Revaluation reserve 3=4,444 -;.

Bood#ill L Jargain purchase ;

%or parent)

DR Non$ *urrent Assets =44,444

*R Revaluation Reserve =44,444

-!lease note, this fair value changes affect the parent’s boo>s "herefore it WI NO" be

used as good#ill calculation It #ill ho#ever be sho#n as part of revaluation reserve in

consolidated accounts.

13


14/23

Fai alu! c&ang!# %$ '!p!cia(l! a##!t#

E4< of the ordinary shares belonging to & #as ac(uired by ! on 3374;3 "he follo#ing are

the details of &’s properties #hich has useful life of 34 years 1 date of ac(uisition "he

group practices depreciation on a straight line method "he subsidiary has not ad0usted its

assets to fair value *onsolidation date is '33774;3

Joo> value 1 3374;3 ? R2'44,444

%air value 1 3374;3 ? R2'=4,444

SOLUTION

Date Joo> /alue

-R2.

%air /alue

-R2.

%/ ad0ustmt

-R2.

Accounting treatment

3374;3

'44,444 '=4,444 =4,444 "reated as an increase inrevaluation reserve to be used in

calculating good#ill because this

is considered as pre$ac( reserves

"he asset must be reported at its

fair value 1 date of ac(uisition in

the consolidated accounts In the

conso accounts, the revaluation

reserve at the date of ac(uisition

is +;*D+D from conso as it is

considered to pre$ac(uisitionreserves #hich have been used in

calculating good#ill

&ince the subsidiary is reporting the asset at its boo> value in its boo>s and the group is

reporting the asset at fair value, ad0ustment must be made for depreciation differences

bet#een the boo> value and the fair value

Date Depreciation

on boo> value

Depreciation

on fair value

Depreciation

ad0ustment

Accounting treatment

'337

74;3

'4,444

-'44,444L34

years.

'=,444

-'=4,444L34

years.

=,444 Additional R2=,444Lyear must be

charged to retained earnings and

allocated to both N*I and group

retained earnings

14


15/23

-!lease note the amount of depreciation e@penses ad0usted depends on the number of

years that has lapsed since ac(uisition date up to consolidation date In this e@ample, 3 year

has lapse from ac(uisition to consolidate date "herefore the depreciation e@penses

ad0ustment is only made for 3 year only.

"he same depreciation principle is applied for parent’s fair value changes in depreciableassets "he ad0ustments can be vie#ed as)

A':u#t4!nt

!’s boo>s

!arent’s R+ 1 consolidation ;;

L $ . depreciation ad0ustment @ L -@.

15


16/23

P$#t/ac-ui#iti$n %ai alu! c&ang!#

&ometimes #e encounter cases #here the asset has fair value changes post ac(uisition

date

+@ample)

&ubsidiary & #as ac(uired on 3374;3 "he follo#ing are the details of its properties #hich

has useful life of 34 years 1 date of ac(uisition "he group practices depreciation on a

straight line method "he subsidiary has not ad0usted its assets to fair value

Joo> value 1 3374;3 ? R2'44,444

%air value 1 3374;3 ? R2'=4,444

%air value 1 '33774;3 ? R2'64,444

N9 G1.1.*061

F G1.1..*061

Fai alu!c&ang!#

Acc$unting t!at4!nt

'44,444 '=4,444 =4,444 DR properties R2=4,444

*R RR R2=4,444

-"his R2=4,444 change is to be used in good#ill

calculation since the change occurred 1

ac(uisition date.

Depreciation ad0ustment 1 '337;3)

Depreciation e@p based on R2'44>

DR Depreciation e@p -R+. R2'4,444

*R Accumulated depn R2 '4,444

Additional depn e@p due to %/ change1 ac( date

DR Depreciation e@p -R+. R2=,444

*R Accumulated depn R+ =,444

-After ad0usting for total depreciation of R2'=,444M

the asset less accumulated depreciation is

R2'3=,444

F l!## acc

'!pn G

51.1*.61

N!+ F G

51.1*.61

Fai alu!

c&ang!#

Acc$unting t!at4!nt

'3=,444 '64,444 5=,444 DR properties R25=,444 *R RR R25=,444

-!lease note there #ould not be any additional

depreciation besides the R2'=,444 because the

date fair value is ad0usted for the second time is

the same as consolidation date.

16


17/23

"he #or>ings of fair value ad0ustment are illustrated as follo#s)

St!p 1 8 $$'+ill calculati$n

*onsideration transferred ;;

. N*I ;;

$. %air value of Net Assets -&ubsidiary 1 ac(uisition.)

$. Ordinary shares ;;

$. &hare !remium ;;

$. Retained earnings ;;

$. %/ ad0ustment K property =4,444 -;;.

$$'+ill 66

P!paing t&! a':u#t4!nt %$ p! an' p$#t/ac-ui#iti$n !#!!# G c$n#$ 'at!

NCI ,*0


18/23

T&! SOFP $% P an' S a# at 51.1*.*061 a! a# %$ll$+#8

Pa!nt ,P

RM"000

Su(#i'ia),S RM"000


&hare premium nil 3=4Retained profits E44 '=4



"O"A 7,644 3,474

!roperty 3,744 'E4

!lant and e(uipment 7E4 '74


"O"A 7,644 3,474

On 3374;3, ! ac(uired 84< of the ordinary shares belonging to & by paying

R2=44,444 in cash and issuing 744,444 of !’s ordinary shares #ith mar>et value of

R27=4 on date of ac(uisition "he retained earnings of & at the date of ac(uisition is

R27=4,444 Other reserves remain unchanged"he fair value of &’s property on ac(uisition date #as R2=44,444 &ubse(uently on

'33774;3 the fair value of &’s property is estimated to be at R2644,444 As at

ac(uisition date, property is depreciated over 74 years on a straight line basis As at ac(uisition date, & also o#ns patents and licenses #orth R2744,444 #hich has

= years useful life

SOLUTION

"he 0ournal entries for the above changes are as follo#s)

7OURNAL >

In !’s boo>s 1 ac(uisition date

DR Investment 3,444,444

*R *ash =44,444

*R Ordinary shares -744,444 @ R2344. 744,444

*R &hare premium -744,444 @ R23=4. '44,444

7OURNAL

In &’s boo>s 1 ac(uisition date -pre$ac(uisition ad0ustments.

DR !roperty 344,444

DR !atents 9 icenses 744,444

*R Revaluation reserve '44,444

7OURNAL

18


19/23

In &’s boo>s 1 consolidation date -post ac(uisition ad0ustments.

DR !roperty 37=,444

*R Revaluation reserve 37=,444

STEP 18 Calculating g$$'+ill

*onsideration transferred 3,444,444

Add. N*I -34< @ %/NA. 84,444

ess. %air value of net assets of &)

$. Ordinary share 744,444

$. &hare premium 3=4,444

$. Retained earnings 7=4,444

$. Revaluation reserve -patents. 744,444

$. Revaluation reserve -property. 344,444 -844,444.

BOODWI 384,444

&ince there is a fair value ad0ustment in property and patents9 licenses, depreciation

and amortiHation ad0ustments must be made)

!roperty ) %/ ad0ustment =44,444 K 544,444. L 74 years ? =,444Lyear

!atents 9 licenses ) %/ ad0ustment 744,444L= years ? 54,444Lyear

STEP * 8 P!paing t&! a':u#t4!nt %$ p! an' p$#t/ac-ui#iti$n !#!!#

RM"000 NCI

,RM"000

CONSO RE

,RM"000

CONSO RR

,RM"000

N*I 1 ac(uisition 84

&ubsidiary)

R+ 1 conso

ess.R+ 1 ac(uisition

!ost$ac(uisition R+Depreciation -=44,444$'E4,444.L74

Amortisation -744,444L= years.

Revaluation reserve post

ac(uisition -644$5:=.

'=4

-7=4.

344-=.

-54.

==

37=

==

37=

58=

337=

!arent)

Retained earnings E44

"otal 34E E58= 337=

19


20/23

STEP 5 8 PREPARIN CONSOLIDATED SOFP8

A##!t#

CONSO

,RM"000

Bood#ill 384

!atents 9 licenses &ubsidiary -744,444$54,444. 364

!roperty

!arents -3,744.

&ubsidiary -'E434437=$=. 3,E44

!lant and e(uipment

!arents -7E4.

&ubsidiary -'74. 644

*urrent assets

!arents -3374$=44.

'74 854

T$tal A##!t# 5=0

E-uiti!# @ lia(iliti!#

Ordinary share capital !arent ONY -3,'44744. 3,=44

&hare !remium!arent -'44.

&ubsidiary K eliminate'44

Retained earnings E58=

Revaluation reserve 337=

N*I 34E


!arent -'44.


*urrent liabilities

!arent -744.


T$tal E-uiti!# @ Lia(iliti!# 5=0

INTERCOMPAN 9ALANCES AND TRANSACTIONS

It is common for companies #ithin the same group to conduct transactions among each

other "his #ill result in asset balances in one company’s boo> #hilst it #ill be reported as

liability in another company’s boo>s &ince the preparation of consolidation consists of

aggregation of assets and liabilities of all the companies in a group, this #ill result in double

reporting "herefore before consolidation is done, intercompany balances must be

eliminated

&ome of the balances can be sho#n as follo#s)

3 oans receivableLpayable7 Accounts receivablesL payables' *urrent accounts5 Jills receivablesLpayables= Interest receivablesLpayables6 Dividends receivablesLpayables

In cases #here one party has remitted cash payment of deliver goods #hich have yet to be

accounted for by the other party, the payment or goods is to be treated as asset in transit

20


21/23

INTERCOMPAN 9ALANCES

Ea4pl! 1

21


22/23

! ac(uired E4< of the ordinary shares in & on '337;:

"he follo#ing is the e@tract of &O%! for ! and & as at '337;8)

! -R2444. & -R2444.

and 34,444 5,444

!lant ',444 3,=44

2achineries 7,444 844

oan to & =44 nil

*urrent account 744 nil

Inventories '44 344

"rade receivables 7=4 374

*ash in ban> 7=4 E4

36,=44 6,:44

Ordinary shares 34,444 5,444

Retained earnings =,=44 3,=44

oan from ! nil =44

*urrent account nil 744

"rade payables 3,444 =44

36,=44 6,:44

3 ! has given a loan to & amounting to R2=44,444

7 ! has made some advance payments on behalf of & and all advances are recorded in current account' In trade receivables of !, there is amount due from & valued at R2=4,444 & has recordedthis

as part of its trade payables

S$luti$n

oan $ recorded as asset in !s boo>s and liability in &s boo>s Need to eliminate

*urrent account $ recorded as asset in !s boo>s and liability in &s boo>s Need to eliminate

"rade receivables in !s boo>s contained amount due from & &o R2=4,444 must be deducted

from trade receivables of ! R2=4,444 must also be deducted from trade payables in &s boo>s

"herefore in consolidating &O%!, the follo#ing items are Herorised)

$ loan to & L loan to !

$ both current accounts

$ trade receivables of ! -7=4$=4 ? 744.$ trade payables of &-=44$=4?5=4.

ITEMS IN TRANSIT

&ometimes overlapping balances in parents boo>s and subsidiarys boo>s do not match

"his can be caused by)

3 payment in transit

7 inventories in transit"he differences bet#een the balances in parents and subsidarys boo>s are added bac> toeither Fcash in ban> account or Finventories account depending on #hich item is in transit

STATEMENT OF FINANCIAL POSITION

22


23/23

DEFERRED TA6 IMPLICATION ON FAIR ALUE AD7USTMENT

%or consolidation purposes, assets are re(uired to be reported at fair value, therefore

depreciation charged #ill be based on fair value

At the company level, the subsidiary may not report its assets at fair value, therefore

depreciation charged #ill be based on boo> value

In circumstances #here fair value is higher than boo> value, depreciation charged at

consolidation level #ill be higher than at company level "his increases depreciation

e@penses #hich in turn #ill reduce net profits "his #ill result in lo#er ta@ value than actual

ta@ payable "his creates deferred ta@ liability

+@ample)

As at 3374;3 the follo#ing values #ere given

seful life Joo> /alue %air /alue

!lant = years 74,444 7=,444

Depreciation per year 5,444 =,444

Assume company ta@ at 7=<

A':u#ting !nti!#8

DR !lant =,444

*R Revaluation surplus -:=

Documents

CONSO SOFP - CHAPTER 10.docx