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ACT B407F Advanced Financial Reporting and Analysis 1 2022 Autumn - Assignment Question Case P Group is formed by P Ltd, 51 Ltd, and 52

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ACT B407F Advanced Financial Reporting and Analysis 1 2022 Autumn - Assignment Question Case P Group is formed by P Ltd, 51 Ltd, and 52 Ltd. The current separate financial statements of P Ltd, 51 Information regarding the acquisition of 51 Ltd and 52 ttd are as follows: The fair value of identifiable net assets of 51 Ltd and 52 Ltd were close to book value at both date of acquisition, except for a fixed asset of 52 Ltd. The book value and fair value of the fived asset were $600,000 and $700,000, respectively, as at 1 January 200, and were $500,000 and $800,000, respectively, as at 1 January 20x1. The estimated useful life of the fixed asset was 5 years at 1 . lanuary 201 with no residual value. ACT B407F Advanced Financial Reporting and Analysis I 2022 Autumn - Assignment Due date and time: 11 November 2022 (5pm) Individual Assignment (Limit: 700 words) (Full marks: 100) Prepare and subenit your assignment on or before the due date/ time and state the number of words towards the end of the assignment. Please make sure yout submission is in the format of MS WORD and not PDF. You are required to write in your own words. Please be reminded that marks will only be awarded if there is a reasonably cogent discussion. Only minimal marks will be awarded to answers that are presented in bullets, incoherent answers of answers that are hard to understand due to language issues. No marks or minimal marks will be awarded for direct copying and pasting and insuificient paraphrasing. Please ensure that your work demonstrates your effort. At HKMU, plagiarism is considered a serious academic misconduct. Any allegations of that, once substantiated, may lead to a mark deduction or the award of a mark of zero. Plagiarism involves copying from another source and represent that as your own work without proper acknowledgment. Question (100 marks) There is a single question for this assignment. You are given a case (in a separate file) about a group of companies with complex ownership structure. You need to complete FOUR required tasks based on the case given. The tasks are: 1. Analyze the group structure by discussing control and NCl. (25 marks) 2. Describe and contrast the defferent approaches to consolidate indirect holdings. (25 marks) 3. Prepare consolidation joumal entries. (20 marks) 4. Prepare consolidated statement of profit or loss and consolidated statement of financial position for the group. (30 marks) You should consult the case document given to you separately for the detats of the question and the requirements. ACT B407F Advanced Financial Reporting and Analysis 1 2022 Autumn - Assignment Question Case P Group is formed by P Ltd, 51 Ltd, and 52 Ltd. The current separate financial statements of P Ltd, 51 Information regarding the acquisition of 51 Ltd and 52 ttd are as follows: The fair value of identifiable net assets of 51 Ltd and 52 Ltd were close to book value at both date of acquisition, except for a fixed asset of 52 Ltd. The book value and fair value of the fived asset were $600,000 and $700,000, respectively, as at 1 January 200, and were $500,000 and $800,000, respectively, as at 1 January 20x1. The estimated useful life of the fixed asset was 5 years at 1 . lanuary 201 with no residual value. ACT B407F Advanced Financial Reporting and Analysis I 2022 Autumn - Assignment Due date and time: 11 November 2022 (5pm) Individual Assignment (Limit: 700 words) (Full marks: 100) Prepare and subenit your assignment on or before the due date/ time and state the number of words towards the end of the assignment. Please make sure yout submission is in the format of MS WORD and not PDF. You are required to write in your own words. Please be reminded that marks will only be awarded if there is a reasonably cogent discussion. Only minimal marks will be awarded to answers that are presented in bullets, incoherent answers of answers that are hard to understand due to language issues. No marks or minimal marks will be awarded for direct copying and pasting and insuificient paraphrasing. Please ensure that your work demonstrates your effort. At HKMU, plagiarism is considered a serious academic misconduct. Any allegations of that, once substantiated, may lead to a mark deduction or the award of a mark of zero. Plagiarism involves copying from another source and represent that as your own work without proper acknowledgment. Question (100 marks) There is a single question for this assignment. You are given a case (in a separate file) about a group of companies with complex ownership structure. You need to complete FOUR required tasks based on the case given. The tasks are: 1. Analyze the group structure by discussing control and NCl. (25 marks) 2. Describe and contrast the defferent approaches to consolidate indirect holdings. (25 marks) 3. Prepare consolidation joumal entries. (20 marks) 4. Prepare consolidated statement of profit or loss and consolidated statement of financial position for the group. (30 marks) You should consult the case document given to you separately for the detats of the question and the requirements

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