I would like to check how's does account work on following situation:
Company A acquire company B by paying sum of money, $100K (Asset + Goodwill). Company B financial year period is 1 Jan - 31 Dec. After completed sales & purchase agreement (on 15 Apr 2018), company A hold 100% share for Company B.
My query are:
1. When doing company B account, should company A taken account entry start from 1 Jan or upon official completion acquisition, which is 15 Apr 2018?
2. When do annual filling & tax filling to government, should company A filling from 1 Jan - 31 Dec 18 or 15 Apr to 31 Dec 18?
Thank you for help!
Company A acquire company B by paying sum of money, $100K (Asset + Goodwill). Company B financial year period is 1 Jan - 31 Dec. After completed sales & purchase agreement (on 15 Apr 2018), company A hold 100% share for Company B.
My query are:
1. When doing company B account, should company A taken account entry start from 1 Jan or upon official completion acquisition, which is 15 Apr 2018?
2. When do annual filling & tax filling to government, should company A filling from 1 Jan - 31 Dec 18 or 15 Apr to 31 Dec 18?
Thank you for help!
