Summarise the Calculations for Recognising Non-Controlling Interests,where Both Direct and Indirect

question 37

Essay

Summarise the calculations for recognising non-controlling interests,where both direct and indirect interests exist,in relation to:
(a)pre-acquisition share capital and reserves; (b)post-acquisition profits; and (c)post-acquisition movements in reserves.

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Definitions:

Purely Philanthropic

Activities or initiatives completely driven by a desire to promote the welfare of others, typically characterized by voluntary financial donations without expectation of any return.

Third Sector

A term used to describe the segment of society that encompasses nonprofit organizations, charities, and voluntary groups which operate independently from the government and the private sector.

Tax-Exempt Sector

Part of the economy made up of organizations that are exempt from paying federal and/or state income taxes, typically including charities, religious organizations, and other nonprofits.

Fourth Sector

The Fourth Sector refers to a developing sector of the economy that combines the agendas and characteristics of the public, private, and nonprofit sectors aiming to create social and environmental impact alongside financial returns.