ACC20013 Lecture Notes - Lecture 8: Comprehensive Income, Financial Statement, Retained Earnings
Document Summary
There are two owners in this group the parent shareholders and the nci. The nci is a contributor of equity to the group. Disclosure of the nci: aasb 12/ifrs 12 disclosure of interests in other entities paragraph 12 requires certain disclosures for subsidiaries in which there are non-controlling interests that are material to the reporting entity, including: The proportion of ownership interests held by non-controlling interests. The profit or loss allocated to non-controlling interests of the subsidiary during the reporting period. Effects of an nci on the consolidation process: aasb 3/ifrs 3. 32 states that the acquirer shall recognise goodwill as of the acquisition date measured as the excess of (a) over (b) below: (a)the aggregate of: The amount of any nci in the acquiree measured in accordance with aasb 3/ifrs 3; Full goodwill method goodwill attributable to both the nci and the parent is measured: partial goodwill method only the goodwill attributable to the parent is measured.
