Totally Ashamed

Studied for only 15 mins, that too in the office. Read 3 pages approximately I wasted my entire evening. I have seen that I hardly ever work on Friday nights…I hope to be more productive tomorrow and put in as many hours as required to stay on track. I’ll complete Reading 22 tomorrow, solve some problems, and recap Reading 21.

Update: I stayed up till almost 5 am and got done reading till p. 89. So, what were the new topics for today?

– Proportionate Consolidation

– Consolidation Method

I wasted about 30 mins trying to figure out the calculation for minority interest in the Balance Sheet on page 89. So for those of you who get stuck here, let me tell you that those Balance Sheets are end of year Balance Sheets. So the Minority Interest at the end of year is calculated as-

Beginning Minority Interest + Minority Interest on Income Statement - Dividends paid by the Investee company

Hope this will make it easier

Now I have 3 more pages to read and after that, I will solve some problems today.