2018-01-26
Consolidated Statement In accordance with IFRS 10, when an entity controls one or more other entities, the financial statements need to be consolidated. Article 10 of IFRS stipulates that the parent company shall prepare and display the consolidated statements according to the quasi-side. Definition of consolidated statements: The financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent company and its subsidiaries are presented in the financial statements as those of a single economic entity. Definition of Control of an investee: An investor controls an investee when the […]