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Section 1

Required:

a)Conduct the acquisition analysis.

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b)Prepare the consolidation journals as at 30 June 2020.
c)What is the total amount of non-controlling interests?
d)What is the total amount of Business Combination Revaluation Reserve (BCVR) shown in the group account?
e)What is the total amount of Goodwill shown in the group account?

Section 2: Case Study

Required

1.Identify and discuss the principles of consolidation used as disclosed in note 1 to the consolidated financial statements.
2.Identify the major subsidiaries (maximum of 5), as disclosed in the notes to the consolidated financial statements.
3.Define the intragroup transactions. Read this company’s “related party disclosure” and identify the intra-group transactions.
4.Identify the following amounts:
i)What is the amount of total comprehensive income for the group for the year ended 30 June 2020?
ii)Show the amount of this comprehensive income that is attributable to shareholders of the parent entity and non-controlling interest.
iii)What is the amount of goodwill at 30 June 2020?   Ltd to prepare consolidated financial statements.
How are the consolidated financial statements impacted by COVID-19, using the facts in Woolworths Group’s annual report to justify your answers?

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