Page 5 - Finac2 Test 1 Slides - 3. Intra-Group Transactions
P. 5

CONSOLIDATIONS AFTER THE DATE OF ACQUISITION




            Consolidation process









            • No journal entries to get to starting point


                    • If controlled at year end - TBs added


                    • If not controlled at year end - TBs not added


            • Pro‐forma journal entries



                    • Processed to get from starting to end point


                    • Done every year from scratch using current year TB


                           • Not IFRS ‐ conceptual convention

                           • Often asked in tests and exams and ITC











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