- 3 Marks
FR – Nov 2016 – L2 – Q1b – Group Financial Statements and Consolidation
Explain the elements of control an investor must have over an investee as outlined in IFRS 10 Consolidated Financial Statements.
Question
IFRS 10 Consolidated Financial Statements outlines the requirements for the preparation and presentation of consolidated financial statements, requiring entities to consolidate entities it controls.
Required:
Explain and justify how IFRS 10 Consolidated Financial Statements determines elements of control of an investor over an investee.
Find Related Questions by Tags, levels, etc.
- Tags: Consolidation, Control, IFRS 10, Investor-Investee
- Level: Level 2
- Topic: Group Financial Statements and Consolidation
- Series: NOV 2016
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