15/07/2023

Bộ môn KẾ TOÁN TÀI CHÍNH

NỘI DUNG

Chương 4 1. GIAO DỊCH NỘI BỘ TẬP ĐOÀN

2. NGUYÊN TẮC LOẠI TRỪ GIAO DỊCH NỘI BỘ
3. GIAO DỊCH NỘI BỘ: HÀNG TỒN KHO
4. GIAO DỊCH CHIỀU XUÔI – CHIỀU NGƯỢC
KẾ TOÁN GIAO DỊCH 5. GIAO DỊCH NỘI BỘ: PPE
NỘI BỘ THEO IFRS 10

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Bộ môn KẾ TOÁN TÀI CHÍNH Intragroup Transactions

• Operational and financial interdependencies within

the group entities
– Lead to intragroup transactions and balances

• Intragroup transactions include for example:

GIAO DỊCH TRONG NỘI – Buying or selling of inventory
BỘ TẬP ĐOÀN – Transferring of long lived assets
– Rendering or procuring of services
– Providing financing among the companies within the
group

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Bộ môn KẾ TOÁN TÀI CHÍNH

Intragroup Transactions

• Intragroup transactions give rise to intragroup balances

– E.g. Loan receivable/payable to or from group companies,
Dividend receivable, Accounts payable/receivable to or
from group companies

• From an economic perspective, an entity is not able to

NGUYÊN TẮC LOẠI TRỪ
transact with itself GIAO DỊCH TRONG NỘI
– Intragroup assets and liabilities, equity, income, expenses
and cash flows relating to transactions between entities of
BỘ TẬP ĐOÀN
the group are to be eliminated in full during consolidation
– Elimination adjustments are made in relation to the original
entries passed in the legal entity’s financial statements.

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Principles of eliminating intragroup transactions Elimination of Realized Intragroup Transactions

• Outstanding balances due to or from companies within a group are
eliminated
• Transactions in the income statement between the group
companies are eliminated
• Profit or loss resulting from intragroup transactions that are
included in the asset are eliminated in full (both parent’s & NCI’s
share)
• Tax effects on unrealized profit or loss included in the asset should
be adjusted according to IAS 12 Income Taxes
 “Offsetting” effect on the group net profit from realized transactions
 Profit recorded by the selling company offset the expense recorded by
buying company
 Elimination is still required to avoid overstatement of individual line
items
Examples:
1. Transactions relating to interest:
 Usually no time lag in the recognizing of interest by borrower and
lender i.e. interest income exactly offsets the interest expense
 Elimination entry:

Dr Interest Income(P/L) (lender)

Cr Interest Expense (P/L)(borrower)
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Bộ môn KẾ TOÁN TÀI CHÍNH

Elimination of Realized Intragroup Transactions
– Exception: borrower capitalizes interest on borrowed
money into the cost of construction of a long-lived asset
Dr Interest Income (P/L- IS)
Cr Fixed assets in progress (B/S)

2. Transactions relating to services provided

– Provision and consumption of services are simultaneous GIAO DỊCH TRONG NỘI
– Elimination entry:
BỘ TẬP ĐOÀN: HÀNG
Dr
Cr
Service Income
Service Expense
TỒN KHO
– Exception: service receiver capitalizes service fee when the
service provided creates or enhances an asset or extends its
useful life

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Intragroup transactions - Inventory Intragroup Transfers of Inventory

 Carrying amount of inventory is its cost which was the

original purchased price from a third party. Therefore, • Unrealized profit in inventory

adjustments are made to eliminate the profit element in Transfer

price (TP) Unrealized profit
the carrying amount of the inventory arising from
Original
intragroup transaction cost Inventory amount in
 Recognize profit only when the inventory is sold to 3rd (OC)* Inventory amount buying company’s
on consolidation books
party
 Cost of sales in the consolidated financial statements
should be the original cost as transacted with unrelated • TP – OC (unrealized profit arising from intragroup transaction) in
third parties and not the transfer price invoiced by one remaining inventory should be eliminated

group company to another *Assuming that the carrying amount prior to the transfer is the original cost

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VÍ DỤ
Intragroup transactions - Inventory Ngày 1/12/2020 công ty mẹ A bán hàng cho công
ty con B với giá bán 500.000.000đ. Giá vốn của lô
Revenue, COGS,
Intragroup Inventory hàng này tại công ty mẹ A là 400.000.000đ. Thuế
profit Retained earning, Inventory, suất thuế TNDN là 20%. Đến ngày 31/12/2020,
Inventory COGS
toàn bộ số hàng mua của công ty A, công ty B còn
Deferred
Unrealized profit tồn kho (công ty A sở hữu 80% công ty B).
tax asset
Yêu cầu:
Reversal of deferred Realized
tax asset profit 1. Xác định lãi (lỗ) chưa thực hiện trong HTK cuối
kỳ.
COGS: Cost of goods sold 2. Thực hiện bút toán điều chỉnh giao dịch bán
HTK nội bộ tập đoàn cho năm 2020.
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Tax Effects on Adjustments to Eliminate

Adjustment to Opening Retained Earnings (RE)
Unrealized Profit (Loss)
• Consolidated tax expense must reflect the tax effects of the
• When a transaction is recognized by a legal entity in one period and
consolidated profit before tax
by the economic entity in another period
– Tax expense should be aligned with income recognition
– Consolidation adjustments are passed through opening RE
– Consolidated opening RE should be the same as the consolidated
• When unrealized profit is eliminated:
closing RE of the previous period – Profit is taxable for the legal entity but not the economic entity
– A deferred tax asset arises (i.e. in the form of a prepaid tax)
• Sum of the opening RE of the legal entities in the group will not be – Consolidation adjustment:
equal to the consolidated opening RE
In the current period: In the following period:
– Consolidated adjustments that have a “one sided effect” on RE (i.e.
elimination adjustments on buyer and seller entries are not fully off- Dr Deferred tax asset Dr Deferred tax asset
setting) must be re-enacted every year Cr Tax expense Cr Opening RE

• E.g. Unrealized profit from intragroup balances in the previous year – The tax expense is recognized when the asset is sold to 3 rd party
are adjusted against opening RE in the subsequent year Sold in the current period: Sold in the following period:
– Re-enactment continue for as long as the asset remains in the group Dr Tax expense Dr Tax expense
Cr Deferred tax asset Cr Opening RE
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Illustration 1: Illustration 1:
Adjustment to Opening Retained Earnings (RE) Adjustment to Opening Retained Earnings (RE)
• S is a wholly owned subsidiary of P Q2: What are the consolidation entries as at 31 Dec 20×2?
• On 1 April 20×1, S sold inventory costing $7,000 to its P for $10,000 (1)
• On 5 Jan 20×2, P sold the inventory to external party for $15,000
• Assumed tax rate of 20%. Year-end is 31 Dec 20×1.
Q1 What are the consolidation journal entries as at YE 31 Dec 20×1 ?
Dr Sales (S’s I/S) (2)
Cr Cost of sales (S’s I/S)
Cr Inventory (P’s SFP)

Dr Deferred tax asset (Group SFP)

Cr Tax expense (S’s I/S)

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Illustration 1: Bộ môn KẾ TOÁN TÀI CHÍNH

Adjustment to Opening Retained Earnings (RE)

If sale to an external party is only made in 20×3:
(1)

(2)
GIAO DỊCH CHIỀU XUÔI
– CHIỀU NGƯỢC

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Downstream Sale Upstream Sale

Unrealized profit Mark-up inventory

resides in Parent’s Parent remains on Parent’s Parent
book SFP

Sales were Sales were

made from made from
90 % 90 %
parent to subsidiary to
owned owned
subsidiary parent

Mark-up inventory Unrealized profit

remains on Subsidiary resides in Subsidiary’s Subsidiary
Subsidiary’s SFP book

In upstream sale, the unrealized profit resides in the subsidiary. Thus, NCI’s
In downstream sale, NCI’s share of profit of the subsidiary is not affected share of the unrealized profit or loss needs to be adjusted from the carrying
because the adjustment affects the parent’s profit not the subsidiary amount of the asset (IFRS 10 Para B86(c))
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VÍ DỤ Illustration 2:
Ngày 1/12/2020 công ty con B bán hàng cho công ty Upstream and Downstream Sales
mẹ A với giá bán 500.000.000đ. Giá vốn của lô hàng này
tại công ty con B là 300.000.000đ. Thuế suất thuế • P invested in 70% of shares of S
TNDN là 20%. Đến ngày 31/12/2020, 40% số hàng • Intercompany transfers of inventory are as follows:
mua của công ty B, công ty A còn tồn kho (công ty A sở 20×3 20×4
hữu 80% công ty B). Sale of inventory from P to S $60,000
Original cost of inventory $(50,000)
Yêu cầu: Gross profit $10,000
Percentage unsold to 3rd party at year end 10% 4%
1. Xác định lãi (lỗ) chưa thực hiện trong HTK cuối kỳ. Sale of inventory from S to P $200,000
2. Thực hiện bút toán điều chỉnh giao dịch bán HTK Original cost of inventory $(170,000)
nội bộ tập đoàn cho năm 2020. Gross profit $30,000
Percentage unsold to 3rd party at year end 30% 0%
3. Thực hiện bút toán điều chỉnh lợi ích của cổ đông • Tax rate: 20%
không KS trong LN sau thuế của tập đoàn năm • Net profit after tax of S: $800,000 (31 Dec 20×3)
2020. $900,000 (31 Dec 20×4)

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Bộ môn KẾ TOÁN TÀI CHÍNH

Transfers of Fixed Assets

• When fixed assets (FA) are transferred at a marked-up price

– The unrealized profit (or loss) must be eliminated from the carrying
amount of FA
– Account for the FA as if the transfer did not take place (group’s view)

GIAO DỊCH TRONG Mark up

NỘI BỘ TẬP ĐOÀN:

Profit
$40,000
+ Transfer
Acc. Dep. on
Original Acc. Dep. price
sale

TÀI SẢN CỐ ĐỊNH cost

NBV NBV

Before Transfer After Transfer

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Adjustments of Transfers of Fixed Assets Adjustments of Transfers of Fixed Assets

1. Restate the FA carrying amount to the NBV as of the date of transfer − The difference between the legal entity’s depreciation* and group’s

2. Profit on sale of FA is adjusted out of: depreciation is adjusted to:

 Consolidated income statement if sale occurred in same period  Consolidated income statement for current year

 Opening RE if sale occurred in the previous period and corresponding  Opening RE for prior year accumulated depreciation

impact on NCI if the transfer is an upstream sale 4. The profit or loss on transfers of FA is realized through the series of
3. Subsequent depreciation is determined on the basis of the original higher or lower depreciation charge subsequently
historical cost of asset & estimated useful life (include revision of  Over the remaining useful life, aggregate of the additional

estimate) depreciation equals the “profit” of the sale

 “new” depreciation that is expensed to the legal entity’s financial 5. Tax effect must be adjusted on the unrealized profit and subsequent
statements is calculated on the basis of the transfer price corrections of depreciation
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Impact on NCI When an Unrealized Profit

Adjustments of Transfers of Fixed Assets
Arises from an Intragroup Transfer of FA
• Principles and processes relating to adjustment of profit on transfer • Downstream sales:
– No impact on NCI
of fixed assets between group companies also apply to other long-
– Elimination of unrealized profit from the carrying amount of the
lived assets such as intangible assets FA will apply only to the parent

• If fixed assets are carried at revalued amounts:

• Upstream sales:
 OCI arising from the revaluation must be determined on the basis – NCI is adjusted against:
of the original cost of the fixed assets  Unrealized profit on sale of FA
 Subsequent depreciation to unwind the unrealized profit
 Consolidation adjustments are required to measure OCI from the
 Tax effect on profit and depreciation adjustments
group’s perspective as if no transfer took place within the group

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Example – PPE transaction

VÍ DỤ P is an 80% owned subsidiary of S. On Jan 1st 2019, P sold an plant to S for
320 CU in cash (carrying amount: cost 600 CU, accumulated depreciation 400
CU). The plant had an estimated useful life of 4 years from the date of sale.
Ngày 01/01/2020, công ty Mẹ bán cho công ty Con The income tax rate was 30%.
một TSCĐ với giá 2 tỷ đồng. NG của tài sản này là 3 Require Prepare consolidation adjustments to eliminate effects of intragroup
sale of the plant on consolidated financial statements in 2019, 2020-> 2023
tỷ đồng, HMLK 1,6 tỷ đồng. Công ty Mẹ khấu hao
theo PP đường thẳng trong 10 năm, Công ty Con
tiếp tục khấu hao theo PP đường thẳng trong 4 năm
còn lại, TSCĐ sử dụng ở bộ phận QLDN. Thuế suất
thuế TNDN là 20%.
Yêu cầu:
1/ Thực hiện các bút toán điều chỉnh năm 2020
2/ Thực hiện các bút toán điều chỉnh năm 2021

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Illustration 3: Illustration 4:
Downstream Transfer of Fixed Assets Upstream Transfer of Fixed Assets
• 1 Jan 20×2 P sold equipment to S for $360,000 • Assume extension from illustration 3
• The original cost of equipment was $400,000 • 1 Jan 20×2 S sold equipment to P for $360,000
• The remaining useful life was 10 year from the original purchase • The original cost of equipment was $400,000
date • The remaining useful life is 8 years from date of transfer
• The remaining useful life is 8 years from date of transfer • Net profit after tax of S for YE 31 Dec 20×2: 500,000
• Assume a tax rate of 20% YE 31 Dec 20×3: 800,000
• P owned 90% of S. Assume a tax rate of 20%

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Loss in transference
 Need to reassess whether the loss is indicative of impairment loss Example 5 – Loss in transference
 Đánh giá xem bán lỗ có phải là dấu hiệu của tổn thất tài sản hay không?
• Parent transferred inventory to subsidiary during the year ended 31 Dec 20×6
 If loss is indicative of impairment loss:
 Loss is not adjusted out of the carrying amount of asset Transfer price $60,000
 Only reverse the sale and cost of sale account for inventory Original Cost $80,000
 Only reverse the sale and accumulated depreciation for FA Gross loss ($20,000)
 Nếu bán lỗ là dấu hiệu tổn thất tài sản:
 Không điều chỉnh khoản lỗ (tổn thất) cho giá trị của TS. • The loss on transfer indicated an impairment loss on the inventory
 Chỉ ghi giảm doanh thu/giá vốn hàng bán theo giá bán (lỗ) What is the consolidation journal entry?
 Chỉ ghi giảm giá bán và khấu hao lũy kế với TSCĐ
 If loss is not indicative of impairment loss:
 Same as unrealized profit treatment
 Unrealized loss is adjusted out of the carrying amount of asset
 Realized only when the inventory is sold to 3rd party or depreciation for FA are
corrected
 Nếu bán lỗ không phải là dấu hiệu tổn thất:
 Điều chỉnh tương tự LNNB chưa thực hiện(giảm lỗ chưa thực hiện)
 Điều chỉnh tăng giá trị TS tương ứng lỗ chưa thực hiện
35  Ghi nhận lỗ khi bán HTK cho bên thứ ba hay khi trích KH 36