CIMA考试模拟试题<6>

　　可通过高顿网校学习更多精品课程，练习更多免费题目，享受更多教学服务；更多详情请拨打高顿网校客服电话400-825-0088。教学服务>>>点击进入

　　Question One

　　DF is preparing its consolidated financial statements for the year ended 31 December 2009. DF has a number of investments in other entities. Details of some of these investments are provided below:

　　Investment in AB

　　DF acquired 90% of the issued ordinary share capital of AB on 1 July 2009 for $6 million, when the book value of the net assets was $5.8 million. The fair value of these net assets was estimated at $6.8 million at the date of acquisition. The difference between the fair value and book value of the net assets related to depreciable property with a remaining useful life at the date of acquisition of 40 years.

　　Investment in GH

　　DF acquired 40% of the issued ordinary share capital of GH on 1 January 2008 for $2 million, when the book value of the net assets was $5.5 million. The fair value of these net assets was estimated at $6 million at the date of acquisition.

　　Investment in JK

　　At the date of acquisition of AB, AB held 65% of the issued ordinary share capital of JK. The operations of JK do not fit within the strategic plans of DF and so the directors plan to sell this investment. The investment is currently being actively marketed with a view to selling it within the next 4 months.

　　Investment in LM

　　DF acquired 15% of the issued ordinary share capital of LM on 1 January 2004 for $1 million. On 1 October 2009, DF acquired a further 40% of issued ordinary share capital for $4.5 million. The fair value of the net assets at 1 October 2009 was $12 million and on 1 January 2004 was $8 million. The previously held interest had a fair value on 1 October 2009 of $1.7 million.

　　The group policy is to value non-controlling interest at the date of acquisition at the proportionate share of the fair value of the net assets.

　　Required:

　　(a)

　　Explain the basis on which each of the investments should be accounted for in the consolidated financial statements of the DF Group for the year ended 31 December 2009 (calculations are not required).

　　(8 marks)

　　(b)

　　Briefly explain the impact of the investment in AB, in the consolidated income statement for the year ended 31December 2009.

　　(2 marks)

　　(Total for Question One = 10 marks)

　　Question One

　　DF is preparing its consolidated financial statements for the year ended 31 December 2009. DF has a number of investments in other entities. Details of some of these investments are provided below:

　　Investment in AB

　　DF acquired 90% of the issued ordinary share capital of AB on 1 July 2009 for $6 million, when the book value of the net assets was $5.8 million. The fair value of these net assets was estimated at $6.8 million at the date of acquisition. The difference between the fair value and book value of the net assets related to depreciable property with a remaining useful life at the date of acquisition of 40 years.

　　Investment in GH

　　DF acquired 40% of the issued ordinary share capital of GH on 1 January 2008 for $2 million, when the book value of the net assets was $5.5 million. The fair value of these net assets was estimated at $6 million at the date of acquisition.

　　Investment in JK

　　At the date of acquisition of AB, AB held 65% of the issued ordinary share capital of JK. The operations of JK do not fit within the strategic plans of DF and so the directors plan to sell this investment. The investment is currently being actively marketed with a view to selling it within the next 4 months.

　　Investment in LM

　　DF acquired 15% of the issued ordinary share capital of LM on 1 January 2004 for $1 million. On 1 October 2009, DF acquired a further 40% of issued ordinary share capital for $4.5 million. The fair value of the net assets at 1 October 2009 was $12 million and on 1 January 2004 was $8 million. The previously held interest had a fair value on 1 October 2009 of $1.7 million.

　　The group policy is to value non-controlling interest at the date of acquisition at the proportionate share of the fair value of the net assets.

　　Required:

　　(a)

　　Explain the basis on which each of the investments should be accounted for in the consolidated financial statements of the DF Group for the year ended 31 December 2009 (calculations are not required).

　　(8 marks)

　　(b)

　　Briefly explain the impact of the investment in AB, in the consolidated income statement for the year ended 31December 2009.

　　(2 marks)

　　(Total for Question One = 10 marks)