Page 333 - F1 Integrated Workbook STUDENT 2018

Consolidated Statement of Financial Position

Note: Use the statement of financial position in the question as a starting point
but insert a row below non-current assets for goodwill and ignore the parent's
investment in the subsidiary.

The parent's investment in the subsidiary is ignored in the CSFP because the
investment in the subsidiary is cancelled against the share of net assets
acquired and the excess is calculated as goodwill.

Consolidated statement of financial position as at 31 December 20X0

$000
Non-current assets
Goodwill (W3)
Property, plant and equipment (3,330 + 550) 3,880
Current assets (1,030 + 660) 1,690
––––
––––
Equity
Share capital 2,500
Retained earnings (W5)
Non-controlling interest (W4)
Current liabilities (400 + 100) 500
––––
––––

Then we can continue with the standard workings (W2) to (W5) to complete
the remainder of the CSFP.

323