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A parent has had a controlling interest of 60% in its subsidiary for a number of years.
Below are financial statement extracts of the two companies for the year ended 30 June 2011:
Parent Subsidiary $'000 $'000 Total comprehensive income 2,364 880 Dividends paid (120) (50) New share capital issued during the year (nominal value + premium on issue) 500 200 The share capital issued by the subsidiary was issued in proportion to ownership rights of existing owners. Requirement
Show the change in equity reported in the consolidated statement of changes in equity of the parent (allocated between amounts due to equity holders of the parent and non-controlling interests).
Illustration of Admissions and Retirements Jim and Ken have been trading in partnership for several, sharing profits or losses equally after allowing for interest on their capi
State the Accounting as an information system We know that accounting can be seen as provision of a service to 'clients'. Another way of viewing accounting is as a part of busi
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Swap - Financial contract in which 2 parties agree to exchange net streams of payments over a specified period. Payments are normally determined by applying different indices (for
Describe the concept of full cost recovery with illustrative examples.
all types of assets
Illustration for preparing final accounts K Ltd established a branch in Arusha Tanzania on 1.1.X2, when Kshs 1 = TShs 15. PPE costing Kshs 800,000 were purchased on that day. I
5 modern accounting techniques
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