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Topic : Group Accounts Prepare the consolidated statement of financial position for the Colour group as at 31 December 2018 (show all workings).

Date Posted: 30/03/2020
Category: Other
Due Date: 30/03/2020
Instruction
Subject : FINANCIAL REPORTING (ACCOUNTING) All workings must be shown on EXCEL like goodwill, adjusted profit etc etc Please show ALL WORKINGS
Attached
Download File 1 (docx)
Download File 2 (xlsx)
Download File 3 (xlsx)
Download File 4 (xlsx)
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Download File 2 (xlsx)
Bidders
DoctorAssignment 6 years, 6 months ago
Rated 8.94 earned 2734.77 around 97 assignments.
I’m an expert in this field and I promise to deliver quality within the shortest time possible.
$25.00
  • Are you an expert in Financial reporting ?
    User_25926 | Mar 30, 2020, 00:42 AM
  • hello ? .
    User_25926 | Mar 30, 2020, 00:46 AM
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academicminded 6 years, 6 months ago
Rated 9.5 earned 87858.79 around 3236 assignments.
Hello this work looks familiar to me and i have dealt with such particular projects severally, i will therefore find easy time to work on it perfectly and deliver to you within a span of hours. Please assign it to me.
$80.00
  • what's the topic that you saw familiar ?
    User_25926 | Mar 30, 2020, 00:43 AM
  • Financial reporting
    academicminded | Mar 30, 2020, 00:44 AM
  • Did you check the file ? would you be able to deliver it in 2 - 3 hours ?
    User_25926 | Mar 30, 2020, 00:44 AM
  • $50 is too much, $80 is way too much, $30 and you have a deal
    User_25926 | Mar 30, 2020, 00:45 AM
  • Let me finish checking the file
    academicminded | Mar 30, 2020, 01:00 AM
  • okay
    User_25926 | Mar 30, 2020, 01:02 AM
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Brilliant Answers 6 years, 6 months ago
Rated 9.71 earned 31218.94 around 1280 assignments.
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$35.00
  • 2-3 hours ?
    User_25926 | Mar 30, 2020, 00:48 AM
  • 24 hours will be okay.
    Brilliant Answers | Mar 30, 2020, 00:52 AM
  • And I deliver quality work.
    Brilliant Answers | Mar 30, 2020, 00:52 AM
  • 24hrs is too long
    User_25926 | Mar 30, 2020, 00:53 AM
  • $30 or $35 in 5 hrs ?
    User_25926 | Mar 30, 2020, 00:53 AM
  • Make it 40
    Brilliant Answers | Mar 30, 2020, 00:57 AM
  • Make it $40
    Brilliant Answers | Mar 30, 2020, 00:58 AM
  • $35 in 6 hours then
    User_25926 | Mar 30, 2020, 00:59 AM
  • Okay, but don't forget to tip me.
    Brilliant Answers | Mar 30, 2020, 01:02 AM
  • sure
    User_25926 | Mar 30, 2020, 01:05 AM
  • as long as if you did it right
    User_25926 | Mar 30, 2020, 01:05 AM
  • Thank you
    Brilliant Answers | Mar 30, 2020, 01:06 AM
  • Your time has started, I will check back in 6 hours. Thank you
    User_25926 | Mar 30, 2020, 01:06 AM
  • Okay.
    Brilliant Answers | Mar 30, 2020, 01:09 AM
  • Hello, I have completed and uploaded your paper. You can now check under the work results area for the completed document. Remember to leave a positive review when you release the payment. I will highly appreciate. Thanks.
    Brilliant Answers | Mar 30, 2020, 06:13 AM
  • hi, your answers are totally wrong! the way you calculated and did the consolidated statement is wrong as well !
    User_25926 | Mar 30, 2020, 06:27 AM
  • I have attached an example (sheet 1 is the question, sheet 2 is the solution) to show you what do I mean
    User_25926 | Mar 30, 2020, 06:34 AM
  • I have also uploaded two files (one for a question, the second one is the solution) it's kind of similar to the hw question (except its for the statement of profit and loss, I need for statement of financial position only) that you were assigned to do. Please have a look at it
    User_25926 | Mar 30, 2020, 06:38 AM
  • Hi, thank you for the additional resources. I will revise accordingly and get back to you. Thanks.
    Brilliant Answers | Mar 30, 2020, 09:37 AM
  • How is it going ?
    User_25926 | Mar 30, 2020, 13:46 PM
  • Pretty well. Working on the revisions
    Brilliant Answers | Mar 30, 2020, 15:08 PM
  • Okay, how far are you now ?
    User_25926 | Mar 30, 2020, 15:52 PM
  • I had to start fro scratch, how much more time do you have?
    Brilliant Answers | Mar 30, 2020, 16:00 PM
  • I can give you three more hours, is that enough ? I have to check your steps so it’s kinda risky if you finished at the deadline time
    User_25926 | Mar 30, 2020, 16:05 PM
  • Hi, I have just repeated the entire work and I am coming to the same results
    Brilliant Answers | Mar 30, 2020, 16:34 PM
  • Please re-work your calculations and let us compare notes. I started from scratch. I have come up with a similar result to the one I uploaded. Make sure that the presentation does not confuse you.
    Brilliant Answers | Mar 30, 2020, 16:38 PM
  • Could you upload it please? Yes the presentation confused me but also you did the consolidated statement of financial position for all 4 which is not correct it shd be for colour only without including the columns for the other 3, also u need to add the subsidiaries and sometimes not and same goes for the associate it’s not included sometimes ,, but u just added them in a different column, they should be all (not all) in one column
    User_25926 | Mar 30, 2020, 17:15 PM
  • Your workings as well, they didn’t seem right comparing to what I learned and the extra resources that I gave you, did you follow the same presentation as the file that I’ve given u ?
    User_25926 | Mar 30, 2020, 17:16 PM
  • Could you upload your answers ? I’ll try to do it but the thing is I don’t understand parts 1,maybe a bit 5?,7,8,9. Part #1: the fair value of other investments €25m Part #5: reval adjustments for Blue: 212m - 5m = 207 White: (24m) Part #7: I’m not sure what it meant by 20% on cost and in selling price ? But what I did is Colour: 360 * 1/3 * 20% = 24 White: 240 * 1/4 * 20% = 12 Parts #8&9: totally lost
    User_25926 | Mar 30, 2020, 18:28 PM
  • hello ?.
    User_25926 | Mar 30, 2020, 18:55 PM
  • I have uploaded the new paper - the paper only includes Colour Plc. The individual companies were just used at the workings stage and that should not confuse you. I have omitted that section - however.
    Brilliant Answers | Mar 30, 2020, 19:25 PM
  • you didn't do anything new !
    User_25926 | Mar 30, 2020, 19:30 PM
  • Fair Value of Non-Controlling Interest at 1st Jan 2014 (20%) 235.00 Fair Value of Company becomes (235*(100/20)) i.e 100% 1,175.00 Identifiable Assets of Blue Plc (1,228.00) Negative Goodwill for Blue Plc (53.00)
    User_25926 | Mar 30, 2020, 19:30 PM
  • this part ^ is really confusing, why you're not using the cost of investment ? its really confusing ! can you just stick to the presentation that I sent you ?
    User_25926 | Mar 30, 2020, 19:32 PM
  • I am arriving at the same results.
    Brilliant Answers | Mar 30, 2020, 19:33 PM
  • you didn't mention the fair value of other investment is 25m, what should i do with it ? the value on the table shows 22m
    User_25926 | Mar 30, 2020, 19:34 PM
  • You will fail if I use the other approach - there are two approaches to calculating Goodwill (full and partial goodwill). With full goodwill you use the full value of the asset and not partial (i.e cost of investment)
    Brilliant Answers | Mar 30, 2020, 19:35 PM
  • can you show it to me? like I said, we don't use this method ( Fair Value of Company becomes (235*(100/20)) i.e 100% 1,175.00 Identifiable Assets of Blue Plc (1,228.00)) we use investments instead
    User_25926 | Mar 30, 2020, 19:35 PM
  • With partial goodwill you can use partial value of the asset and that is what has been done in the other question.
    Brilliant Answers | Mar 30, 2020, 19:36 PM
  • where is your cost of investments ? its confusing
    User_25926 | Mar 30, 2020, 19:36 PM
  • I know there are two approaches to calculate the goodwill, but the way you're presenting it will definitely make me lose marks !
    User_25926 | Mar 30, 2020, 19:37 PM
  • That is where you are going wrong. The cost of the investment is only a proportion of the entire value (and that defeats the essence of the full value approach). It is even called the full value approach because you are supposed to use the full value of the asset.
    Brilliant Answers | Mar 30, 2020, 19:39 PM
  • * Not the cost of investment
    Brilliant Answers | Mar 30, 2020, 19:41 PM
  • if you have seen the examples I sent you, its all been used from the cost of investments only
    User_25926 | Mar 30, 2020, 19:41 PM
  • you didn't mention the fair value of other investment is 25m, what should i do with it ? the value on the table shows 22m
    User_25926 | Mar 30, 2020, 19:41 PM
  • you didn't mention the fair value of other investment is 25m, what should i do with it ? the value on the table shows 22m
    User_25926 | Mar 30, 2020, 19:46 PM
  • Now that is something totally different. That is valuation of the investment - which is totally different from the computation of goodwill. That remains as it is as we value the investment using the cost method because Colour Plc does not have a controlling interest or significant interest in the "other companies" as indicated in the brief. If Colour had significant influence, then we could have used the equity method.
    Brilliant Answers | Mar 30, 2020, 19:51 PM
  • okay
    User_25926 | Mar 30, 2020, 19:53 PM
  • you didn't calculate the Non Controlling Interest
    User_25926 | Mar 30, 2020, 21:31 PM
  • ???
    User_25926 | Mar 30, 2020, 22:12 PM
  • can you solve these two parts?
    User_25926 | Mar 30, 2020, 23:24 PM
  • 8. The trade receivables of Colour plc includes €40m due from Blue plc and the trade receivables of White Ltd includes €50m due from Blue plc. The trade payables of Blue plc includes €37m due to Colour plc and €50m due to White Ltd. There were no goods in transit between group companies at 31 December 2018.
    User_25926 | Mar 30, 2020, 23:24 PM
  • 9. Blue plc sold plant and equipment to Colour plc on 1 January 2017 (i.e. in the previous year) for €120m, the carrying value of this plant equipment in Blue plc’s books on 1 January 2017 was €95m. Plant and equipment is depreciated at 20% per annum reducing balance by both Colour plc and Blue plc.
    User_25926 | Mar 30, 2020, 23:24 PM
  • i don't get them
    User_25926 | Mar 30, 2020, 23:24 PM
  • hello ??? your answers are wrong
    User_25926 | Mar 31, 2020, 00:49 AM
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  • 2- 3 hours ?
    User_25926 | Mar 30, 2020, 00:49 AM
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    User_25926 | Mar 30, 2020, 00:50 AM
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