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    Warrburt Group Statement of Changes in Equity For The Year Ended 30 November 20X8

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    The document provides information about Warrburt Group's statement of changes in equity for the year ended 30 November 20X8. It shows an increase in share capital from equity issuance of $55 million and dividends paid of $14 million. Total comprehensive income for the year was a loss of $49 million comprising a loss of $78 million and other comprehensive income of $27 million and $2 million. Notes disclose that Warrburt holds equity investments in other entities, with fair value changes through other comprehensive income of $30 million and sale of one investment realizing $45 million. The retirement benefit obligation increased by $4 million in remeasurement losses to $100 million.

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    Warrburt Group Statement of Changes in Equity For The Year Ended 30 November 20X8

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    The document provides information about Warrburt Group's statement of changes in equity for the year ended 30 November 20X8. It shows an increase in share capital from equity issuance of $55 million and dividends paid of $14 million. Total comprehensive income for the year was a loss of $49 million comprising a loss of $78 million and other comprehensive income of $27 million and $2 million. Notes disclose that Warrburt holds equity investments in other entities, with fair value changes through other comprehensive income of $30 million and sale of one investment realizing $45 million. The retirement benefit obligation increased by $4 million in remeasurement losses to $100 million.

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    The document provides information about Warrburt Group's statement of changes in equity for the year ended 30 November 20X8. It shows an increase in share capital from equity issuance of $55 million and dividends paid of $14 million. Total comprehensive income for the year was a loss of $49 million comprising a loss of $78 million and other comprehensive income of $27 million and $2 million. Notes disclose that Warrburt holds equity investments in other entities, with fair value changes through other comprehensive income of $30 million and sale of one investment realizing $45 million. The retirement benefit obligation increased by $4 million in remeasurement losses to $100 million.

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    11 views1 page

    Warrburt Group Statement of Changes in Equity For The Year Ended 30 November 20X8

    Uploaded by

    .
    The document provides information about Warrburt Group's statement of changes in equity for the year ended 30 November 20X8. It shows an increase in share capital from equity issuance of $55 million and dividends paid of $14 million. Total comprehensive income for the year was a loss of $49 million comprising a loss of $78 million and other comprehensive income of $27 million and $2 million. Notes disclose that Warrburt holds equity investments in other entities, with fair value changes through other comprehensive income of $30 million and sale of one investment realizing $45 million. The retirement benefit obligation increased by $4 million in remeasurement losses to $100 million.

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    of 1

    PRACTICE KIT

    CFAP 1: ADVANCED ACCOUNTING AND FINANCIAL REPORTING


    CHAPTER 20: CONSOLIDATION CASH FLOWS

    WARRBURT GROUP
    STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 NOVEMBER 20X8

    Share Retained Revaluation controlling Total


    capital earnings IEI surplus Total interest equity
    $m $m $m $m $m $m $m

    1 December 20X7 595 454 16 4 1,069 53 1,122


    Share capital issued 55 55 55
    Dividends (9) (9) (5) (14)
    Total
    comprehensive (78) 27 2 (49) (2) (51)
    income for the
    year
    Balance at
    30 November 20X8 650 367 43 6 1,066 46 1,112

    NOTE TO STATEMENT OF CHANGES IN EQUITY


    $
    Profit/(loss) attributable to owners of parent (74)
    Remeasurement losses on defined benefit pension plan (4)
    Total comprehensive income for year – retained earnings (78)

    The following information relates to the financial statements of Warrburt.


    (i) Warrburt holds investments in equity instruments (IEI) which are owned by the parent company. At 1
    December 20X7, the total carrying amount of those investments was $150 million. In respect of $112
    million of this $150 million, Warrburt had made an irrevocable election under IFRS 9 for changes in fair
    value to go through other comprehensive income (items that will not be reclassified to profit or loss).
    The remaining $38 million related to an investment in the shares of Alburt, in respect of which changes
    in fair value had been taken to profit or loss for the year. During the year, the investment in Alburt was
    sold for $45 million, with the fair value gain shown in 'other income' in the financial statements. The
    following schedule summarises the changes:
    Alburt Other Total
    $m $m $m
    Carrying amount at 1 December 20X7 38 112 150
    Add gain on derecognition/revaluation of IEI 7 30 37
    Less sales of IEI at fair value (45) - (45)
    Carrying amount at 30 November 20X8 - 142 142

    Deferred tax of $3 million arising on the $30 million revaluation gain above has been taken into account in
    'other comprehensive income' for the year.

    (ii) The retirement benefit obligation shown in the statement of financial position comprises the following:
    $m
    Liability at 1 December 20X7 96
    Expense for period 10
    Contributions to scheme (paid) (10)
    Remeasurement losses 4
    Liability at 30 November 20X8 100

    From the desk of Hassnain R. Badami, ACA


    TSB Education-Premium Accountancy Courses P a g e 57 of 318

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