shou8k
Apr 28, 2009, 08:01 AM
Hey guys, jsut a short question :)
Say Parent Ltd acquired Sub Ltd in 1 July 2006, and up to Date of acquisition, Sub has spent 800000 on a research project, which Parent estiamte the FV to be 600000, . In the year ended 30/6/07 Sub expended another $100,000 on this project, and another $100,000 in each of the next two years.
I'm working on my consolidate worksheet for the year end 30/6/09, I tried to recognise this as an asset but still struggle to what type of entries should i record:mad:? Does it have any future effect ? or should i treat this as research only, expense it thus no effect on accounting for the group?
Thanxs
Say Parent Ltd acquired Sub Ltd in 1 July 2006, and up to Date of acquisition, Sub has spent 800000 on a research project, which Parent estiamte the FV to be 600000, . In the year ended 30/6/07 Sub expended another $100,000 on this project, and another $100,000 in each of the next two years.
I'm working on my consolidate worksheet for the year end 30/6/09, I tried to recognise this as an asset but still struggle to what type of entries should i record:mad:? Does it have any future effect ? or should i treat this as research only, expense it thus no effect on accounting for the group?
Thanxs