CALCULATION OF NCI In December 2019, William Ltd acquired 60% of the issued shares of Thomas Ltd. The accountant for William Ltd, Nikki Romanov, is concerned about the approach she should take in preparing the consolidated financial statements for the newly established group. In particular, she is concerned about the calculation of the NCI share of equity, particularly in the years after acquisition date. She has heard accountants in other companies talking about a ‘step’ approach, and in particular how this makes accounting in periods after the acquisition date very easy. Required Prepare a report for Nikki, explaining the step approach for the calculation of NCI and the effects of this approach in the years after acquisition date. CASE STUDY