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ACCA FR合并财务报表常见错误：对合并损益进行时间分配

文章来源：ACCA全球官网

发布时间：2021-09-09 11:01

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The preparation of consolidated financial statements is a key element of the Financial Reporting(FR)exam.It can be an area where candidates perform extremely well but can also be an area where candidates make simple mistakes which could prove costly.

This article will not focus on the more technical,difficult adjustments that can arise within consolidated financial statements but will instead look at the most common errors that candidates make.These are the items that the FR examining team see repeatedly.Many of these errors are easy to make in a time-pressured exam.The good news is that they are also quite simple to fix.By avoiding these errors,candidates will be able to significantly improve their mark and their chances of progressing to the next stage.

This article also looks at equity accounting for associate accounting and is a reminder of how it differs from consolidation.

Before we look at these errors,we need to remind ourselves of some key principles surrounding the preparation of consolidated financial statements.If candidates are able to keep these key principles in mind,then hopefully they can avoid some of the most common(and costly)errors that we will outline below.

Key principles in consolidation

Control–We show control by adding in 100%of the items of the parent and the subsidiary.There are no exceptions to this.Even in a mid-year acquisition in the consolidated statement of profit or loss(where we time-apportion the results of the subsidiary),we still bring in 100%of the subsidiary’s income and expenses but restrict it for the period owned.

Ownership–We must remember that there are two owners of the group.The parent’s shareholders own the majority of the group(owning 100%of the parent,and therefore a majority holding in the subsidiary)and the non-controlling interest.Candidates are very good at remembering to reflect the amounts attributable to the different owners in the consolidated statement of financial position,but are generally quite poor in remembering to do this in the consolidated statement of profit or loss(see error 2)

So,here are our top five errors.A candidate that avoids just one of these simple errors could potentially gain up to four marks in their exam,so they are worth being aware of.We have ranked these in order of how common they are.

An important thing to note immediately is that the top two errors noted here have big impacts on the consolidated statement of profit or loss.Of the two types of consolidated financial statements preparation questions,the marks awarded on the consolidated statement of profit or loss are always lower and the questions less well done.By avoiding errors 1 and 2 here,you could improve your score on this question by up to 7 marks–this is significant in terms of your total FR score.This is essential and shows the importance of good technique and applying the principles of control and ownership noted above.

Error 1–Forgetting to time apportion the consolidated P/L in mid-year acquisitions

When candidates have previously been asked to prepare a consolidated statement of profit or loss(CSPL)in an exam,it has often been that the company has acquired the subsidiary during the year.If this is the case,a fundamental principle of the CSPL is that the income and expenses are only consolidated from the date of acquisition.

This is easy to overlook but be ready for it.Dates are given in the scenario for a reason and should always be considered.A key part of preparing a CSPL is to check the date of acquisition before you attempt the question.Be ready for it to have been acquired during the year,as this is the case more often than not.【点击免费下载>>>更多ACCA学习相关资料】

If it is a mid-year acquisition,instead of adding all of the income and expenses of the parent and subsidiary company,you add all of the parent’s income and expenses to the time-apportioned income and expenses of the subsidiary.So,if the parent acquired the subsidiary on 1 October 20X1 and the year-end is 31 December 20X1,you should only include three months of the subsidiary’s results.

This is deemed as a fundamental error.If you fail to do this,you can lose all marks for the basic principle of consolidating the results of the parent and subsidiary.You will still be able to gain marks for the adjustments made,but you will lose the simple‘adding up’marks for consolidating the income and expenses of the parent and subsidiary.

Error 2–Omitting the non-controlling interest(NCI)in the CSPL

This has become increasingly common,leading to students dropping numerous marks for failing to apply a core principle in the CSPL.The two major functions of the CSPL are:

It shows the total profits made by the group during the year–this is why we add all of the income and expenses of the parent and the subsidiary(time-apportioned for the subsidiary if necessary(see error 1);and

It shows who each of those profits is attributable to by splitting out the profits attributable to the owner and the NCI at the bottom of the CSPL.

Generally,students recognise the importance of point(1)above,but increasingly neglect point(2).This is an essential part of a CSPL and can be worth up to four marks.These marks are gained through showing the knowledge that profit is split between the two parties,and then identifying which adjustments impact the NCI.

A frustration noted from the FR examining team is with strong candidates who clearly know how to process technical adjustments,producing excellent answers but then not including the split of profits at the bottom of the CSPL.This means that even strong candidates are dropping some of the more achievable marks available.

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