Wellcom_FY11-Financial-Report

Wellcom_FY11-Financial-Report

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Unformatted text preview: iPrint Corporate Pty Ltd prior to the acquisition. The goodwill is attributable to the workforce and the high profitability of the acquired business. It will not be deductible for tax purposes. There were no acquisitions for the year ended 30 June 2010. (i) Acquired receivables The gross contractual amount for trade receivables due is $3,502,320 all of which is expected to be collectable. (i) Revenue and profit contribution The acquired business contributed no revenue for the year ended 30 June 2011, as the transaction was settled on the last day of the financial year. As a result of the Group holding 50% of the share capital of the business prior to acquisition a total of $972,258 has been equity accounted within the income statement for the year ended 30 June 2011 (refer to note 11). If the acquisition had occurred on 1 July 2010, consolidated revenue and profit for the year ended 30 June 2011 would have been $101.29m and $10.6m respectively. These amounts have been calculated using the Group’s accounting policies. (b) Purc...
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This document was uploaded on 02/06/2014.

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