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Mommy has owned 80% of Baby’s share and therefore, non-controlling interest owns .
Recognize it with minus, as we are crediting equity with non-controlling interest.
I’ll do it on a case study, with explaining what I do and why.
If you don’t like reading, you can skip to the end of this article and watch my video.
After combining like items, we need to , but here, we’re not going to complicate the things.
Then we need to recognize any non-controlling interest and goodwill.
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Please note here that in the above statements of financial position, .
Therefore, when a group controller calls you every five minutes to remind you the consolidation package, you’ll know why!
In our case study, combined numbers looks as follows: Of course, there are some strange and redundant numbers, for example both Mommy’s and Baby’s share capital, but we haven’t finished yet!
If you take action today and subscribe to the IFRS Kit, you’ll get it at discount! But when you need to deal with more complex situations, then you can forget or omit the things very easily. However, to make you happy, you can find the same case study solved “by the exam-style” in the attached excel file that you can download in the end of this article. But in most cases, there is lots of issues or circumstances that you need to take into account and exactly their significance and amount makes it all difficult. For example: I can go on and on, but I don’t want to discourage you.
However, if you need to know more about all these issues, I have covered them fully in my premium learning package the IFRS Kit, so please check out if interested.