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ACCA FR合并财务报表常见错误：按比例合并
文章来源：ACCA全球官网
发布时间：2021-09-09 11:08
阅读：1219次
Error 5–Proportionate consolidation
Of all the errors,this is the one that frustrates the FR examining team the most as it seems to signify a lack of practice of past questions.A few years ago,this error was in dramatic decline,which was pleasing to see.Sadly,recent diets have shown a resurgence in this error.
A student who applies proportionate consolidation does not include 100%of the assets and liabilities of a subsidiary in a CSFP,or income and expenses in a CSPL.Instead they only apply the percentage that the parent owns in the subsidiary.Therefore,if the parent owns 80%in the subsidiary,these candidates add in 80%of the subsidiary’s assets,liabilities,income or expenses.
This is never a correct way to prepare consolidated financial statements and any candidate doing this is making a severe and fundamental error.Students will never have seen an example of this,as it is not acceptable practice and so they will lose significant marks for doing this.
Equity accounting
It is also important to note that consolidation refers to the accounting required where the parent company controls another entity(subsidiary).Candidates should not confuse this with equity accounting which is related to associate companies where significant influence is presumed with a shareholding between 20-50%.The following is a summary of equity accounting but you should refer to other learning materials for further detail.
CSPL
Do not consolidate a proportion of income and expenses line by line(common error)but present a single‘Share of profit of the associate’line in the CSPL.This is presented above the consolidated profit before tax.This is the parent’s share of the associate’s profit for the year(time apportioned if appropriate).
CSFP
As for the CSPL,do not consolidate a proportionate share of assets and liabilities line by line(common error)but instead include in the CSFP a single‘Investment in associate’line under non-current assets.This is calculated as follows:
Another common error with equity accounting relates to the adjustment for unrealised profit where trade has occurred between the parent and the associate.The FR examining team have simplified the required adjustment,so that it is the same adjustment irrespective of the direction of sale(parent to associate or associate to parent).The adjustment will always reduce the‘Share of profit of the associate(CSPL)’and reduce the‘Investment in Associate’in CSFP.However,a common error is to calculate and adjust the unrealised profit in the same way as you would for a subsidiary.Candidates must remember to only adjust for the group%of the unrealised profit.
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In conclusion,the preparation of consolidated financial statements is a key area for the Financial Reporting exam.There are many technical aspects to these questions,and question practice is crucial.There is no short-cut to scoring a good mark,but there are some key principles to remember.If you keep these in mind,you will avoid dropping marks on the more basic areas:
Time-apportion the subsidiary’s income/expenses if mid-year
Remember to include the NCI in a CSPL
Ensure you process a double entry for all adjustments
Never time-apportion assets or liabilities
Never apply proportionate consolidation
So,take those tips away and know that you are protected from some of the more costly individual errors.Ensure you practice the CSPL,as these questions are commonly less well done.This topic is important for both Financial Reporting and Strategic Business Reporting,so it is essential to lock in the fundamentals.
Written by a member of the FR examining team
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