Hi all,
Can you please help me with the following queries. Thanks in advance!
1. Goodwill – On consolidation, is it possible to actually increase goodwill figures or can goodwill only be reduced/impaired?
2. IFRS 3 states that negative goodwill is to be credited to the income statement. So if we CR Income, what’s the other double entry?
Apologies if the questions are basic!
Thanks

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Dear All,
Request your valuable advice on the entries to be passed in the books of 1. Consolidated company 2. Stand Alone Parent Company for the purchase of shares on March 1,2009 and also the treatment of Goodwill.
Company X had already acquired 50 % of shares of Company Y 2 years back for a cash consideration of $65,000(Total Value of Common Stock/shares #1000).The parent company has been recording the investment under equity method and as on Feb 28,2009, the carrying value of investment is $69,000 (after considering the post acquisition share …

Hello,

I am an Austrian student and I would like to write about consolidation. More specifically I am going to write a comparison between full consolidated corporations and consolidation at equity. As far as I know, equity consolidation exists as term in german, but not in English. In English it is referred to as elimination of balances according to IAS 27 debt consolidation. IFRS 3 – Business Combinations is going to be relevant for me as well.

I am in the need of some good literature to read up …

Dear All , Kindly need your urgent help
We Have more than 10 companies in different countries and using different currencies :
1- our holding company send us every month end the conversion rate that we should use for each currency in order to be able to consolidate in 1 reporting currency.
2- Every month we report the PL ( Year to Date figures ) , and the balance with other schedules …
MY Question is : We should use the average rate of the PL and month end rate for Balance …

Dears
Would you please explain me what is the difference between affiliates
and subsidaries, and then if there is any difference in accounting
treatments.( i am asking these question w.r.t an investment co.)
2nd thing is how i will treat the personal expenses of a partner which
are being paid by the co. and where i have to show it in the balance
sheet.
Regards,
Hameed

Dear Hameed
The shares of subsidiary company should be owned by holding company
but for affiliates, the relationship is a connected party.
Thanks and regards
Simon

Dear Simon
Thanx for your reply, dear would you please explian me more, …

Please let me know the treatment of Inter company loan waiver.Example 
Company A is fellow subsidiary of company B.
And company B has given loan to company A for $ 10,000 and there is accrued interest of $ 1000 on loan.
Now Company B waive off all loans and interest.
Under IFRS it should be charged to P& L or equity?
Regards,

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Company A holds total control over the board of directors of company B. But it does not have any voting rights in the company B. 
Is company A required to consolidate the results of company B with its  own results.
If yes, what is the share of results to be included for line by line consolidation. 
–
Regards,

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Dear All ,
Now we are part of an International Company : so we have to report monthly figures of our 35 units , our 35 units are in different country so different  currency ,
We are Consolidating all the units in The Holding and we report one figure to the Worldwide company , every month they send us the rate that we should use.
MY QUESTION IS : AS PER MY KNOWLEDE FIXED ASSETS SHOULD HAVE A HISTORICAL RATE AND WE SHOULD NOT DO A MONTHLY EVALUATION FOR THAT  , …

Hi dear all 
 
Can someone help me in finding best consolidation notes in the context of IFRS-27, and the material should be the best in its use and at least 30 pages.
 
Waiting for response
 

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Kindly if an entity is reporting to group of companies as subsidiary because the holding company own 49% of this company only so on the consolidation level we are consolidating the equity only , my question for the trade transactions between this entity and other group entities will be classified as Inter-company transaction or as trade creditors ( like any external supplier) ???
regards  
tony

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