P owns 80% of the equity share capital of S The profit after tax of S for the year ended 31 December 20X6 was $60 million.
During 20X6, P sold goods to S for $4 million at cost plus 20%. At the year end 50% of these goods were left in the inventory
of S.
What is non-controlling interest share of the after-tax profit of S for the year ended 31 December 20X6?
Net profit of S 60,000
NCI share of profit of S (20%) (12,0000)
Because the sale was made from the parent, P to the subsidiary, S, there is no unrealised profit attributable to the
non-controlling interest.
多做几道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
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