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Minority interest % changes during the year

edited Mar 9, 2020 1:25PM in Financial Consolidation and Close 2 comments

Summary

How to deal with minority result when ownership changes during the year?

Content

In the beginning of the year the ownership of a certain entity is 70%. During the year (say July 1 2020) this changes to 100%. From July 2020 on the minority interest in the BS must be zero, but minority result in the P&L stays the same for the remainder of the year at the same number it was at the end of June. I managed to eliminate the minority in the BS, apart from the P&L minority result.

To solve that, I created a configurable consolidation rule that took as source the result in the P&L, as Factor the minority interest % change and the first entry (-) minority and the second (+) entry FCCS_Retained Earnings Current - Pre Ownership Change. However, this does not work as only the periodic number of June is taken into account and not the YTD number.

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