Professional Documents
Culture Documents
IFRS 3 Practical Cases
IFRS 3 Practical Cases
SOLUTION:
ACQUIRING BUSINESS: SERRANIA S.A
WE CALCULATED THE NET VALUE AS OF JANUARY 1, 2017, OF THE ASSETS ACQUIRED AND
LIABILITIES ASSUMED:
Consideration delivered:
Net fair value: Non-controlling interest: 40,000.00
-10,600.00
Difference: 29,400.00 0.00
CASE N°: 02
CASE OF MERGER OF A COMPANY BY ABSO
1) CASO UNIDOS S.A.
UNIDOS S.A. and DESUNIDOS S.A. have prepared their balance sheets as of the day
before the merger.
ACTIVE LIABILITIES
CURRENT CURRENT
Cash and cash equivalents 75,000.00 Tax and contribution to the
trade accounts receivable from third parties system. From
33,000.00 accounts payable trade
merchandise 27,000.00 Total current
Total current assets 135,000.00
NON CURRENT
NON CURRENT Account payable
Property, plant and equipment 45,000.00 TOTAL LIABILITIES
Accumulated depreciation and harmonization -4,275.00
Total non-current assets 40,725.00 EQUITY
Capital
TOTAL ASSETS Accumulated Results
Total equity
ACTIVE LIABILITIES
CURRENT CURRENT
Cash and cash equivalents 15,000.00 Tax and contribution to the
trade accounts receivable from third parties system. From
67,500.00 accounts payable trade
merchandise 12,000.00 Total current
Total current assets 94,500.00
NON CURRENT
NON CURRENT Account payable
Property, plant and equipment 82,500.00 TOTAL LIABILITIES
Accumulated depreciation and harmonization -9,000.00
Total non-current assets 73,500.00 EQUITY
Capital
TOTAL ASSETS Revaluation surplus Retained earnings
Total equity
SOLUTION:
ACCOUNTING ENTRIES AT DESUNIDOS S.A. ________________1
EQUITY CONSOLIDATION
57 22,500.00
50 4,500.00
59 18,000.00
X/X for the compensation of losses for the revaluation surplus.
______________________2_________________________
TRANSFER OF ASSETS AND LIABILITIES
39 9,000.00
42 112,500.00
46 22,500.00
168 33,000.00
10 15,000.00
12 67,500.00
20 12,000.00
33 82,500.00
X/X For the delivery of assets and liabilities of UNIDOS S.A. according to the corresponding
reception act.
______________________3_________________________
RECEIPT OF SHARES
30 33,000.00
30223
36 33,000.00
3649
X/X For registering the receipt of shares of UNIDOS S.A. with which the Company's equity is being
held.
______________________4_________________________
CLOSING OF ACCOUNTS AND DELIVERY OF SHARES
50 33,000.00
30 33,000.00
X/X For the delivery of shares in DESUNIDOS S.A. and the closing of
the accounting records upon completion of the merger process.
rceros 27,000.00
57,750.00
90,000.00
27,975.00
117,975.00
NIO 175,725.00
rceros 0.00
135,000.00
28,500.00
22,500.00
-18,000.00
33,000.00
NIO 168,000.00
EXERCISE 3
In May 2018, Lima S.A. acquired the assets and liabilities of CENTRO S.A. for S/. 240
million.
The book value of the identifiable assets and liabilities of the Callao company was S/. 330
million and $120 million, respectively. The post-purchase evaluation of the company EL
CENTRO S.A. determined that its assets and liabilities have a fair value of S/. 390 and S/.
140 million, respectively.
CONCEPT AMOUNT IN
ASSETS 350,000,000
LIABILITIES 140,000,000
NET ASSETS 210,000,000
AMOUNT PAID 240,000,000
PLUSVALIA -30,000,000
2. DETERMINATION OF FINAL CAPITAL GAIN
INITIAL IN
CONCEPT REASONABLE ENDBOOKS ADJUST
ASSETS 500,000,000 350,000,000 150,000,000
LIABILITIES 180,000,000 140,000,000 40,000,000
NET ASSETS 320,000,000 210,000,000 110,000,000
AMOUNT PAID 240,000,000 240,000,000 0
PLUSVALIA 80,000,000 -30,000,000 110,000,000
p q
q -t>
measure
as the excess of (a) over (b) below:
(a) Sum of:
(i) the consideration transferred measured in accordance with this IFRS, which
generally requires it to be the fair value at the acquisition date (see paragraph
37);
(ii) the amount of any non-controlling interest in the acquiree measured in
accordance with this IFRS; and
(iii) in a business combination carried out in stages (see the
paragraphs 41 and 42), the acquisition-date fair value of the acquirer's previously
held interest in the acquiree's equity.
(b) the net of the amounts at the date of acquisition of the identifiable assets
acquired and liabilities assumed, measured in accordance with
with this IFRS.
ACCOUNTING ENTRIES
CALLAO ACCOUNTING
---------------xxx----------
ASSETS 150,000,000
LIABILITIES 40,000,000
PLUSVALIA 30,000,000
UTILITY OF
BUY 80,000,000