1. Analyse the Group Structure by discussing control and NCI

Question Case P Group is formed by P Ltd, $1 Ltd, and $2 Ltd. The current separate financial statements of P Ltd, S1 The fair value of identifiable net assets of $1 Ltd and $2 Ltd were close to book value at both date of acquisition, except for a fixed asset of $2Ltd. The book value and fair value of the fixed asset were $600,000 and $700,000, respectively, as at 1 January 200, and were $500,000 and $800,000, respectively, as at 1 January 201. The estimated useful life of the fixed asset was 5 years at 1 January 201 with no residual value. Question Case P Group is formed by P Ltd, $1 Ltd, and $2 Ltd. The current separate financial statements of P Ltd, S1 The fair value of identifiable net assets of $1 Ltd and $2 Ltd were close to book value at both date of acquisition, except for a fixed asset of $2Ltd. The book value and fair value of the fixed asset were $600,000 and $700,000, respectively, as at 1 January 200, and were $500,000 and $800,000, respectively, as at 1 January 201. The estimated useful life of the fixed asset was 5 years at 1 January 201 with no residual value