+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Accounting and Audit (https://www.accountancy.com.pk/forum/forum-accounting-and-audit)
+--- Thread: Partnership as subsidiary (/thread-partnership-as-subsidiary)
Partnership as subsidiary - noor4794 - 03-09-2010
A subsidiary of a company acquired partnership firm without consideration and without any share in Partner's capital account. The control was acquired by virtue of an agreement in which 51% of voting rights were obtained.
Acquisition Date 1st October 2009
Pre Acquisition Loss Rs.306,543
Partner's Capital account Rs.308,000 (No contribution by holding Co)
Acc. Losses @ 31 december 2009, Rs.512,259
Using above data can anyone suggest me treatment of goodwill/Bargain purchase, considering paragraph 44 of IFRS 3.