ACCA 经典练习题答案.pptVIP

analysis The investment in Salvador represents 80% (96/120) of its equity and is likely to give Hedra control thus Salvador should be a subsidiary. The deferred contingent consideration has now become payable and has to be accounted for. The inter-company loan should be eliminated Since the further consideration has not been accounted for, the individual B/S of H must be adjusted first. goodwill Reserve Minority interest assets Equity liability Consolidated balance sheet Definition A financial instrument is any contract that gives rise to a financial asset of one enterprise and a financial liability or equity instrument of another enterprise. Definition A financial liability is any liability that is a contractual obligation: ----to deliver cash or another financial asset to another enterprise;(e.g.trade payables,bonds) or ----to exchange financial instruments with another enterprise under conditions that are potentially unfavorable.(e.g. income An equity instrument is any contract that evidences a residual interest in the assets of an enterprise after deducting all of its liabilities. Part b Convertible loan note is a compound financial instrument and IAS 32 Financial Instrument:disclosure and presentation requires that the debt element and the equity element if such instruments are accounted for separately. The amount of the issue proceeds attributable to the conversion rights is classified as equity. This amount is normally calculated as the “residual” after the value of the debt has been calculated. Value of debt-----present value of the cash will be received 1.Choose the coupon rate of normal loan note :10% as discount rate 2. PV of interest: annual interest: 3m X 0.06 180,000 PV factor: 0.91+0.83+0.75+0.68 3.17 570,600 3.PV of capital and redemption premium 3000000 X (1+10%) X 0.68 2,244,000 Value o