22/06/2022

Bộ môn KẾ TOÁN TÀI CHÍNH

Chương 3

KẾ TOÁN HỢP NHẤT KINH

DOANH SAU NGÀY MUA
THEO IFRS 3

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NỘI DUNG
1. Loại trừ khoản đầu tư vào công ty con
2. Kế toán lợi ích cổ đông không kiểm
soát theo IFRS 3
3. Phân bổ chênh lệch giá trị hợp lý
4. Lợi thế thương mại sau ngày mua

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Bộ môn KẾ TOÁN TÀI CHÍNH

LOẠI TRỪ KHOẢN ĐẦU

TƯ VÀO CÔNG TY CON

33

Elimination of Investment Account

What the parent is paying for

Share of book Share of

Consideration excess of fair
value of
transferred by Goodwill
subsidiary’s + value over +
parent = net assets at book value of
acquisition identifiable net
Eliminated against date assets
subsidiary’s share
capital, pre-acquisition
retained earnings and
pre-acquisition other
equity items
• Investment account is eliminated
– To ensure that the investment account must be zero
– Substituted with subsidiary’s identifiable net assets and goodwill (residual)
– Rationale: Avoid recognizing assets in two forms (investment in parent’s
statement of financial position and individual assets and liabilities of subsidiary)
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Illustration 1: Elimination of Investment

Illustration
On 8 August 2010, Parent Co. bought 100% interest in subsidiary for
$200,000. At the date of acquisition, Subsidiary Co. had the following:

Share capital: $50,000

Retained earnings: $30,000
Equity: $80,000

At acquisition date, Subsidiary Co. had an unrecognized intangible

asset had a fair value of $50,000. Tax rate was 20%

Illustration 1: Elimination of Investment

Consolidation Consolidated Statement of financial
Parent Subsidiary
adjustments position
Dr Cr
Assets
Investment in
200,000 200,000 0
Subsidiary
Goodwill (Note 2) 80,000 80,000
Other net assets
300,000 80,000 50,000 10,000 420,000
(Note 1)
500,000 80,000 130,000 210,000 500,000

Equity
Share capital 100,000 50,000 50,000 100,000
Retained earnings 400,000 30,000 30,000 400,000
500,000 80,000 80,000 0 500,000
210,000 210,000

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Illustration 1: Elimination of Investment

Note 1:
Increase in other net assets due to recognition of intangible asset 50,000

Decrease in other net assets due to recognition of deferred tax liability (10,000)

Net increase in other net assets 40,000

Note 2:
Goodwill is excess of the investment amount over the FV of identifiable net assets
Investment in Subsidiary 200,000
Book value of equity or net assets (80,000)
Fair value of intangible asset 50,000
Book value of intangible asset 0
Excess of fair value over book value 50,000
Deferred tax effects (10,000)
(40,000)
Goodwill 80,000

Illustration 1: Elimination of Investment

CJE1: Elimination of investment in subsidiary
Dr Share capital 50,000
Dr Retained earnings 30,000
Dr Goodwill 80,000
Dr Intangible asset 50,000
Cr Investment in Subsidiary 200,000
Cr Deferred tax liability 10,000
210,000 210,000

Re-enacting CJE

• Building blocks of consolidation worksheet are the legal entity financial

statements of parent and subsidiary
• CJE 1 has to be re-enacted at each reporting date as long as Parent has
control over subsidiary
• Each consolidation process is a fresh-start approach

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Bộ môn KẾ TOÁN TÀI CHÍNH

KẾ TOÁN LỢI ÍCH CỔ

ĐÔNG KHÔNG KIỂM
SOÁT THEO IFRS 3

99

Non-controlling Interest

• NCI only arises in consolidated financial statements where:

– one or more subsidiaries are not wholly owned by the parent
(IFRS 10)
• NCI are entitled to their share of retained earnings of the
subsidiary from incorporation
– No distinction between pre-acquisition and post-acquisition
retained earnings for NCI
• Same applies to OCI
– NCI collectively have a share of accumulated OCI arising from
incorporate date to the current date
• NCI are normally a credit balance
– Share of residual interests in the net assets of a subsidiary
10
– Total equity (parent’s and NCI) = Assets – Liabilities

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Analysis of Non-Controlling Interests

Share of book
Balance of Share of
value of
non- book value of Unimpaired
remaining (FV
controlling = subsidiary’s + + goodwill
– BV) of
interests at equity at attributable
identifiable
reporting reporting to NCI
net assets at
date date
reporting date

• The analysis of non-controlling interests enables us to efficiently assess

the balance of non-controlling interests

• Another method of arriving at the non-controlling interests is to build up

the balance chronologically through the consolidation process

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Reconstructing NCI on Statement of

Financial Position

Incorporation Date of Beginning of End of current

date acquisition current year year

NCI have a share of NCI have a share of NCI have a share of

1. Share capital 1. Change in share capital 1. Profit after tax
2. Retained earnings 2. Change in retained 2. Current amortization of
earnings fair value differential
3. Other equity
3. Change in other equity 3. Current impairment of
4. Fair value goodwill
differentials 4. Past amortization of fair
value differential 4. Dividends as a
5. Goodwill repayment of profits
5. Past impairment of
goodwill 5. Change in other equity

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Reconstructing NCI on Statement of

Financial Position
• At each reporting date, group will re-create NCI account
in the consolidated financial statement by recognizing
the sequential build up:
– As of acquisition date
– From acquisition date to beginning of the current
period
– During the current period

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Accounting for NCI under IFRS 3

• Equity on the consolidated statement of financial position must

include both the interests of equity owners of the parent company
and NCI of partially owned subsidiaries

• NCI is an equity item and must be separately shown from the equity
of the owners of the parent company

• Asset and liabilities of the subsidiary must be reported in full

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Ví dụ: Ngày 01/01/N công ty M mua 80% tài sản thuần của công
ty C với giá 4.050 triệu đồng. Giả sử tại ngày mua GTHL của TS
thuần của công ty C bằng với GTGS của nó. Vốn CSH tại ngày này
của công ty C là 5.000 triệu đồng, trong đó bao gồm:
Vốn đầu tư của CSH: 3.800 triệu đồng
LN sau thuế chưa phân phối: 1.200 triệu đồng
Bút toán loại trừ khoản đầu tư của Công ty Mẹ vào Công ty Con tại
ngày mua và tách Lợi ích cổ đông không kiểm soát?

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Ví dụ : Ngày 01/01/N công ty M mua 80% tài sản thuần của

công ty C với giá 4.000 triệu đồng. Vốn CSH tại ngày này của
công ty C là 5.000 triệu đồng, trong đó Vốn đầu tư của CSH:
3.800 triệu đồng, LN sau thuế chưa phân phối: 1.200 triệu đồng
Giả sử tại ngày mua GTHL của TS thuần của cty C = GTGS của nó,
trừ lô hàng hóa có GTHL là 50 và GTGS là 40. Thuế TNDN 20%
1. Bút toán loại trừ khoản đầu tư của Công ty Mẹ
vào Công ty Con tại ngày mua ?

2. Bút toán tách Lợi ích cổ đông không kiểm soát

tại ngày mua?

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Non-Controlling Interests’ Share of Goodwill

• IFRS 3 Para 19 allows NCI to be measured in either of two ways

Non-controlling interests

Measured at Fair Measured as a

value at acquisition proportion of the
date (include recognized amounts of
goodwill) the identifiable assets as
“ Fair value basis” at acquisition date

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Non-Controlling Interests’ Share of Goodwill

• Under the fair value basis:

– FV is determined by either the active market prices of subsidiary’s
equity share at acquisition date or other valuation techniques
– FV per share of NCI may differ from parent because of control premium
paid by parent (e.g. 20% premium over market price to gain control)
– NCI comprises of 3 items:

Non-controlling
interests

Share of
Share of book value unamortized Goodwill attributable to
of net assets FV adjustment NCI
(FV – BV)

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Non-Controlling Interests’ Share of Goodwill

• Under the fair value option:

– Journal entry to record NCI at fair value (re-enacted each year):
Dr Share capital of subsidiary
Dr Retained earnings at acquisition date
Dr Other equity at acquisition date
Dr FV differentials (FV – BV)
Dr Goodwill (Parent & NCI)
Dr/Cr Deferred tax asset / (liability) on fair value adjustment
Cr Investment in subsidiary
Cr FV differentials (BV – FV)
Cr Non-controlling interests (At fair value)

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Non-Controlling Interests’ Share of Goodwill

• Under the 2nd option:

– NCI is a proportion of the acquiree’s identifiable net assets (i.e. not full
fair value)
– NCI comprises of 2 items:

Non-controlling
interests

Share of
Share of book value unamortized
of identifiable net assets of FV adjustments
(FV – BV)
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Non-Controlling Interests’ Share of Goodwill

• Under the 2nd option:

– Journal entry to record NCI (re-enacted each year):

Dr Share capital of subsidiary

Dr Retained earnings at acquisition date
Dr Other equity at acquisition date
Dr FV differentials (FV – BV)
Dr Goodwill (Parent’s goodwill only)
Dr/Cr Deferred tax asset / (liability) on FV adjustment
Cr FV differentials (BV – FV)
Cr Investment in S subsidiary
Non-controlling interests
Cr (NCI % × FV of identifiable net assets)

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Non-Controlling Interests’ Share of Goodwill

NCI measured as a
NCI measured at FV proportion of the
acquiree’s identifiable
net assets

Book value of net assets

Fair value – Book value of

net assets

Goodwill

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Illustration 3:
Non-Controlling Interests’ Share of Goodwill
The FV of NCI that owned 10% of Subsidiary A as at 31 Dec
20×1(Acquisition date) was $25,000. The financial statements of
Subsidiary A as at acquisition date are as shown below. Subsidiary A
had unrecognized intangible assets with fair value of $40,000. Tax rate
is 20%. Determine NCI’s good will as at acquisition date.

Subsidiary A’s Statement of Financial Position as at 31 December 20×1:

Net assets 160,000

Share Capital 140,000

Retained Earnings 20,000
Equity 160,000

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Allocation to Non-controlling Interests

1. Allocation of the change in equity from date of

acquisition to the beginning of the current period
Dr Retained earnings (NCI % × in RE from acquisition date to
beginning of current period)
Cr NCI (B/S)

• No distinction between pre-acquisition or post-

acquisition profits
• To transfer the NCI’s share of subsidiary’s retained
earnings to NCI

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Allocation to Non-controlling Interests

2. Allocation of current profit after tax to NCI (P/L)

Dr Income to NCI
Cr NCI

• Attribution of profit to NCI is not expense item and should not be

shown above the profit after tax line
• Without attribution, retained earnings of the group would be over-
stated and NCI’s share of equity would be under-stated
• The same attribution principle applies to Other Comprehensive
Income (OCI) – NCI are attributed their share of OCI arising during a
period
 Examples: Revaluation surplus or deficit on property, PPE and
intangible assets etc.

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Allocation to Non-controlling Interests

3. Allocation of dividends to NCI

• Reverses the profit and loss effects of dividends in
consolidated income statement
• A repayment of profits by a subsidiary
• Reduces the NCI’s residual stake in the net assets
of the subsidiary

Dr Dividend income (Parent)

Dr NCI (Equity)
Cr Dividends declared (Subsidiary)

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Bộ môn KẾ TOÁN TÀI CHÍNH

PHÂN BỔ CHÊNH LỆCH

GIÁ TRỊ HỢP LÝ
(sau ngày mua)

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Phân bổ chênh lệch giá trị hợp lý

Tại ngày mua:
• Khi điều chỉnh giảm Khoản đầu tư vào công ty
con, đồng thời đã ghi nhận:
- Chênh lệch tài sản thuần của công ty con giữa
GTHL và GTGS tại ngày mua
- Các Tài sản, Nợ phải trả tiềm tàng chưa được
ghi nhận tại công ty con trước ngày mua
- Tài sản thuế hoãn lại/ Thuế hoãn lại phải trả
xuất phát từ việc điều chỉnh, ghi nhận các
khoản mục trên
- Lợi thế thương mại 28

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Phân bổ chênh lệch giá trị hợp lý

Vào những năm sau:
• Việc xóa bỏ ghi nhận TS, NPT của công ty con
(do đã sử dụng, đã thanh toán,..) sẽ được xác
định trên cơ sở GTHL tại ngày mua. Vì vậy:
- Giá trị phân bổ, trích khấu hao, Giá vốn hàng
bán của các tài sản được xác định theo GTHL
tại ngày mua
- Giá trị khoản nợ phải trả khi thanh toán được
xác định theo GTHL tại ngày mua

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Phân bổ chênh lệch giá trị hợp lý

Vào những năm sau:
• Việc ghi giảm Khoản đầu tư vào công ty con,
chênh lệch giá trị hợp lý ngày mua và phân bổ
sau ngày mua được lặp lại mỗi khi lập BCTCHN
cho đến khi:
- Thanh lý khoản đầu tư vào công ty con; hoặc
- Mất quyền kiểm soát công ty con

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Phân bổ chênh lệch giá trị hợp lý

Vào những năm sau:
– Phương pháp mua chỉ ghi nhận giá trị hợp lý tại ngày
mua
– Tài sản thuần trên BCTC riêng ghi theo GTGS, vì vậy
việc phân bổ, trích khấu hao hay thanh lý sau ngày mua
được điều chỉnh trên sổ hợp nhất:
Giá trị ghi sổ GTHL của
+ Điều chỉnh =
chi phí đã chi phí trên
chênh lệch chi
ghi nhận BCTC hợp
phí (FV – BV)
trên BCTC nhất
riêng
Điều chỉnh trên sổ hợp
nhất 31

Illustration 2:
Amortization of Fair Value Differentials
• P Co. paid $6,200,000 and issued 1,000,000 of its own shares to
acquire 80% of S Co. on 1 Jan 20×5
• Fair value of P Co’s share is $3 per share
• Fair value of net identifiable assets is as follows:
Book value Fair value Remaining useful life
Leased property 4,000,000 5,000,000 20 years
In-process R&D 2,000,000 10 years
Other assets 1,900,000 1,900,000
Liabilities (1,200,000) (1,200,000)
Contingent liability (100,000)
Net assets 4,700,000 7,600,000

Share capital 1,000,000

Retained earnings 3,700,000
Shareholders’ equity 4,700,000
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Illustration 2:
Amortization of Fair Value Differentials
Additional information:
• Contingent liability of $100,000 was recognized as a provision loss
by the acquiree in legal entity financial statement on Dec 20×5
• FV of NCI at acquisition date was $2,300,000
• Net profit after tax of S Co. for 31 Dec 20×5 was $1,000,000
• No dividends were declared during 20×5
• Shareholders’ equity as at 31 Dec 20×5 was $5,700,000

Q1 : Prepare the consolidation adjustments for P Co. for 20×5

Q2 : Perform analytical check on balance of NCI as at 31 Dec 20×5

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Illustration 2:
Amortization of Fair Value Differentials
Consolidation adjustments for 20×5
CJE 1: Elimination of Investment in Subsidiary

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Illustration 2:
Amortization of Fair Value Differentials
CJE 2: Depreciation and amortization of excess of FV over book value

Under dep. by Under amort. by

$50k $200k
Dep exp:
$50,000
Amort exp:
Dep. of
Amort. of $200,000
$200,000 $250,000 R&D
leased
property $0
Based on
Based on Based on FV
Based on FV book value
book value
35

Illustration 2:
Amortization of Fair Value Differentials
CJE 3: Reversal of entry relating to provision for loss

Note: Contingent liability was already recognized in CJE 1. The

recognition by the acquiree in its legal entity financial statement
results in double counting; hence this reversal entry is necessary

CJE 4: Tax effects on CJE 2 & CJE 3

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Illustration 2:
Amortization of Fair Value Differentials

CJE 5: Allocation of current year profit to non-controlling interests (NCI)

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Bộ môn KẾ TOÁN TÀI CHÍNH

LỢI THẾ THƯƠNG MẠI

SAU NGÀY MUA

38
38

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Goodwill Impairment Test

• IAS 36: Goodwill has to be reviewed annually for impairment loss

– Reviewed as part of a cash-generating unit (CGU)

• CGU is the lowest level at which the goodwill is monitored for

internal management purposes and

• Not larger than a segment determined under IFRS 8 Operating

Segments

– Goodwill will be allocated to each of the acquirer’s CGU, or group

of CGUs
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Goodwill Impairment Test

1. Carrying amount:
– Net assets of the cash-generating unit
– It includes entity goodwill attribute to parent and NCI

2. Recoverable amount:
– IAS 36 allows the higher of the below two metrics to determine
recoverable amount:
+ FV less cost to sell (an arms-length measure)
− Uses market based inputs or market participants’ assumptions in the
valuation process

+ Value-in-use (VIU)
− Present value of future net cash flows
− Uses internal or entity-specific input to determine the future cash flows
− VIU likely to be more discretionary as assumptions about future cash flows
are required
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Goodwill Impairment Test

3. If carrying amount > recoverable amount

– Impairment loss is first allocated to goodwill
– Then to other assets in proportion to their individual
carrying amounts
– Impairment tests to be carried out on annual basis;
regardless of whether indications of impairment exists
– Impairment once made is not reversible, as it may result
in the recognition of internally-generated goodwill which
is prohibited under IAS 38

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Goodwill Impairment Test

Steps for impairment test

Determine the carrying amount of the CGU

Determine the recoverable amount of the CGU

Recoverable amount: Higher of fair value or value in use

If carrying amount ≤ If carrying amount ≥

recoverable amount recoverable amount

Allocate impairment loss

No impairment loss to goodwill first and
balance to other net assets
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Goodwill Impairment Test

NCI as a proportion of
NCI at FV at acquisition
identifiable net asset at
date
acquisition date
Goodwill on consolidation Includes NCI’s goodwill Excludes NCI’s goodwill
Goodwill has to be
Goodwill is allocated to grossed up to include
cash-generating unit NCI’s share
Carrying amount of cash- without further adjustment
generating unit Notionally adjusted
goodwill
= Recognized
goodwill/parent’s interest
Impairment loss is shared
between parent and NCI Impairment loss is borne
Impairment loss on the same basis on only by parent as goodwill
which profit or loss is for NCI is not recognized
allocated 43

Illustration 4:
Goodwill Impairment Test
Company × has 80% ownership in a CGU with identifiable net assets of
$6 million as at 31 Dec 20×1. The recoverable amount of the CGU as
an entity was $5 million as at that date. Determine the impairment loss
of goodwill in the CGU under two alternative measurement basis:

(a) NCI measured at FV at acquisition date. Goodwill recognized by

CGU was $1.2 million
(b) NCI measured as a proportion of FV of identifiable net assets at
acquisition date. Goodwill recognized by CGU was $1 million

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