1. Does IFRS require consolidated accounts to be reported for subsidiary companies pursuing dissimilar activities?
2. Do companies within the EU have to use IFRS as a standard?  Are other standards allowed?
3. It is common practice, according to a publication, that consolidated accounts are prepared from the point of view of the parent company, thus, separating the fair values of minority interests.  Is this practice being worked upon by IASB?
If possible, please quote the relevant standard and the location of the source copy.

Dear Members
Please advice, how to give effect of consolidation adjustments of the previous year into the current year. how do i give effect of goodwill and minority interest which was passed in the previous year in the current year.
your early response will be helpful.
 
best regards
Suraj Ratan Mohta
srm1930@gmail.com 
cell No.9820297934

Dear All,
Please let me know the treatment of Existing negative goodwill incase of first time adoption of IFRS
Regards
Chirag

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 …

In case of newly established subsidiary, which have not stared his commercial activities and in construction phase, is it require to consolidate it or we can show it on cost. Plz tell me What will be the right treatement

Hi

 
Please give me your opinion on forex loss on Assets. Do you capitalize it or do expense it to the foreign loss

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Dear all,
I have a question in relation to acquisition accounting in accordance with
IFRS3. In this case a parent company A acquires all the shares in
subsidiary company B for (say) 50M. This cost price represents a goodwill
over the fair value of the assets and libailities assumed of 15M. Where
should I record the 15M goodwill? Is this in the subsidiary company B or
in parent company A?

Based on IAS21, p. 47, I would say in the sub.
All the best, Farah

L’adresse e-mail de votre correspondant a changé. Elle devient:  prenom.nom@gdfsuez.com
Nous vous remercions de bien …

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 …

Por favor podría alguien indicarme en donde puedo encontrar
información sobre metodologías para la medición del deterioro del
Goodwill. Sería Adecuado usar multiplos como base para su medición.
Please could someone tell me where can I find information on
methodologies for the measurement of impairment of Goodwill. Could i
use the methodology of multiples as a basis of measurement
Sincerely
Wilmar

Wilmar
You can send me a private note in Spanish if you like
That said as the Group is an English speaking one here is my view
(others might disagree)
1. Under IFRS the impairment testing is two fold
a) Th consolidation …

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,

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,

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
 

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

Dear All
 
If a company is issuing shares to its parent compnay on stage by stage basis then what will be procedure to calculate goodwill and minority interest.
 
for eg.
 
on 20/03/2008 – suppose a Company (ABC) – subsidiary comapny issues shares to its parent company (XYZ). at that time the % of share holding of parent is 33% and again on May 2008 ABC issues shares to XYZ. After the 2nd allotment the holding of XYZ becomes 70%.
 
Now please advice the method for calculating goodwill and minority interest for the Financials as on 31.12.2007.
 

Suraj

Dear …

Hi Everyone
Need a little help on this one.
When it has been determined under SIC 12 that an SPE will need to be consolidated, where would one book the equity of the SPE in the consolidated financial statements of the parent entity? Does anyone in the group have a worked example of the consolidation procedure?
Thanks
Vatsala

It would simply a separate form of equity (call it Special equity or Other
equity) without control over the core parent company and subsidiaries and
with special rights in respect of the allocation of income.
Disclose the specialties around this …

Arial;”>Hi
 
When a parent company preperaing consolidated financials lost control and reaches significant influence , attracking equity method.
 
The change in ownership of subsidiary should be accounted for subsequently or to restate the prior period.
 
That is equity method should be applied from the date of change or should do this restructring from prior period financial staement presented.
thanks
With Best Wishes and Regards
SHABI

 
Dear Shabih,
 

 
When part of an investment in a subsidiary is sold during the reporting period, the parent should record its investment after the disposal in the consolidated accounts as follows:
- If a …

Dear all,
 
 
Please help in confirming the merger entry for the following case:
 
Company A acquired 50% interest in Company B during 2004. The other 50% was held by the Company C, Company A’s Parent Company. Upon acquisition, Company A recognized a goodwill under purchase method of accounting.
 
Cost 100
Investment in B – 50
Goodwill 50
 
During 2006, the 50% shares held by the Parent Company was transferred to Company A, giving it the full ownership of Company B. The parent agreed that the credit of 50% will go to ADDITIONAL PAID IN CAPITAL (APIC). During 2006, the …

Hello
 
i have got a question on transfer of shares involving share permium, can any one help ?
 
Facts :
(1) A holds 100% on C. 
 
(2) C ’s capital structure : 10,000 shares of US$1 par value. 
 
(3) A has invested in Co C of USD 1m for share capital of USD 10,000 and share premium of USD 990,000. 
 
(4) C incurs a loss and has negative net assets value.
 
If structure changes that there is an immediate holding co of  C named B, then A holds 100% on B and then B 100% on C.
 
Questions :
(1) Can A transfer the shares to B at consideration of USD 1 …