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| Subject: recovereability Prepayment Cards ERG | |
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Author: ERG |
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Date Posted: 08:29:20 01/17/03 Fri Thank you for using the forum, Wonder Woman Your entry has now been added to the forum as follows... Name: Wonder Woman Location: Sydney, NSW Australia Date: Saturday, January 18, 2003 at 3:23:50 AM Subject: Hi Phillip, recovereability Prepayment Cards ERG Comments: Hi Phill, PCL will be consolidated in ERG's accounts in estimation say fairly soon,(reversal of prior year profit, exchange movement and equity losses applicable to Prepayment Cards Limited 13,990--30/6/2001 to the 30/6/2002 reported 12/9 audited 1/10 02) being at 47.1%-- ( N.E. Renton "Understanding The Stock Exchange Chapter 823 page 157.) If more than 50% is owned, then the company becomes a subsidiary and this latter principle again applies: credit is taken for all the profits, less the proportion belonging to the outside minority shareholders. (if any) percentage is not the only way to measure it, if it was, it is looking excellent on this front--another measure is do the directors of the consolidated group have decision making control (-AASB 1016 (paragraph 9) as:Signifcant influence is defined by i) The capacity of an entity to ii)...affect subtantially but not control iii)....the financial and/or operating policies of an investee.) With ERG taking out Sema's stake to bring them up to the 47.1% level--looking good also in authors opinion.The recovereability of the carrying amount is reviewed annually at ERG in accordance with accountancy practice. (IAS36).Thankyou for enquiring over my health, need a pair of glasses!, getting quite a bit of eye strain, hope you are well, looking forward to having a beer one day. Regards,--WW. [ Next Thread | Previous Thread | Next Message | Previous Message ] |