- 6 Marks
CR – May 2023 – L3 – Q2b – Consolidated Financial Statements (IFRS 10)
Discuss the advantages of using consolidated financial statements and enumerate the contents of an environmental report in an annual report.
Question
(b) The annual reports of the group also contain separate financial statements of the parent company (Octopus Petroleum Plc). Some companies also include social and environmental reports as part of their financial statements.
Required:
i. Explain why it is better to use the consolidated financial statements for financial analysis rather than the parent’s separate financial statements. (4 Marks)
ii. Enumerate the possible contents of an environmental report included in the annual report of companies. (2 Marks)
Find Related Questions by Tags, levels, etc.
Report an error