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ACCA FR知识点：商誉减值例题
文章来源：ACCA全球官网
发布时间：2021-09-09 10:57
阅读：1196次
EXAMPLE
This comprehensive example is an adaptation of a previous consolidation question looking at many of the elements of goodwill outlined above.This is good practice for how a consolidated statement of financial position question might be asked,with a common format of presenting the answer.This question contains other adjustments,so it is important that you have read through other learning materials on group accounting,including associate companies,before attempting it.
On 1 October 20X6,Plateau Co acquired the following non-current investments:
Three million equity shares in Savannah Co by an exchange of one share in Plateau Co for every two shares in Savannah Co,plus$1.25 per acquired Savannah Co share in cash.The market price of each Plateau Co share at the date of acquisition was$6,and the market price of each Savannah Co share at the date of acquisition was$3.25.At 1 October 20X6 Savannah Co had retained earnings of$6 million.
Thirty percent of the equity shares of Axle Co at a cost of$7.50 per share in cash.At this date Axle Co had retained earnings of$11 million.
Only the cash consideration of the above investments has been recorded by Plateau Co.In addition,$500,000 of professional costs relating to the acquisition of Savannah Co are included in the cost of the investment.
The summarised draft statements of financial position of the three companies at 30 September 20X7 are shown here.
The following information is relevant:
(i)At the date of acquisition,Savannah Co has an unrecognised internally generated brand name.This was deemed to have a fair value of$1m at 1 October 20X6 and has not suffered any impairment since acquisition.
(ii)On 1 October 20X6,Plateau Co sold an item of plant to Savannah Co at its agreed fair value of$2.5m.Its carrying amount prior to the sale was$2m.The estimated remaining life of the plant at the date of sale was five years(straight-line depreciation).
(iii)During the year ended 30 September 20X7,Savannah Co sold goods to Plateau Co for$2.7m.Savannah Co had marked up these goods by 50%on cost.Plateau Co had a third of the goods still in its inventory at 30 September 20X7.There were no intra-group payables/receivables at 30 September 20X7.
(iv)At the date of acquisition,the non-controlling interest in Savannah Co is to be valued at its fair value.For this purpose,Savannah Co’s share price at that date can be taken to be indicative of the fair value of the shareholding of the non-controlling interest.Impairment tests on 30 September 20X7 concluded that neither consolidated goodwill nor the value of the investment in Axle Co had been impaired.
(v)The financial asset investments are included in Plateau Co’s statement of financial position(above)at their fair value on 1 October 20X6,but they have a fair value of$9m at 30 September 20X7.
Required:
Prepare the consolidated statement of financial position for Plateau Co
as at 30 September 20X7.
Answer
Consolidated statement of financial position of Plateau Co as at 30 September 20X7(see here).
Tutorial note:
The consideration given by Plateau Co for the shares of Savannah Co works out at$4.25 per share–ie consideration of$12.75m for 3 million shares.This is higher than the market price of Savannah Co’s shares($3.25)before the acquisition and could be argued to be the premium paid to gain control of Savannah Co.This is also why it is(often)appropriate to value the NCI in Savannah Co’s shares at$3.25 each,because(by definition)the NCI does not have control.
The 1.5 million shares issued by Plateau Co in the share exchange,at a value of$6 each,would be recorded as$1 per share as capital and$5 per share as other components of equity(share premium),giving an increase in share capital of$1.5m and a share premium of$7.5m.【点击免费下载>>>更多ACCA学习相关资料】
(w7)Property,plant and equipment
The transfer of the plant creates an initial unrealised profit(URP)of$500,000 being the difference between the agreed FV($2.5m)and the carrying amount($2m).This should be eliminated from Plateau Co’s retained earnings and from the carrying amount of the plant to restate as if the transfer had not taken place.
The carrying amount of the plant is reduced by excess depreciation of$100,000 for each year([$2.5m/5years]–[$2m/5 years])in the post-acquisition period.Therefore,the net adjustment in the carrying amount of property,plant and equipment is$400,000.
The excess depreciation charge should also be eliminated on consolidation and,since it will have arisen in Savannah Co’s individual accounts,the elimination of the depreciation will have the effect of increasing Savanah Co’s post-acquisition retained earnings and,consequently,the profits attributable to the non-controlling interest.
(w8)Inventory
The unrealised profit(URP)in inventory intra-group sales are$2.7m on which Savannah Co made a profit of$900,000(2,700 x 50/150).One third of these are still in the inventory of Plateau Co,thus there is an unrealised profit of$300,000.
Tutorial note:
In this question,there is no goodwill impairment.If there had been an impairment,say of$1 million,then the full$1 million would have been deducted from goodwill.As the non-controlling interest is recorded at fair value,this impairment would have been split between the non-controlling interest and the parent based on the percentage owned.Therefore$250,000(25%of the impairment)would be deducted from the non-controlling interest figure in equity and$750,000(75%of the impairment)would be deducted from retained earnings in equity.
Written by a member of the FR examining team
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