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Chapter 20

Consolidated financial statements II

Outcome

By the end of this session you should be able to:

 prepare a basic consolidated statement of profit or loss (or extracts thereof),
including adjustments to reflect non-controlling interests, fair values, intra-group
trading, unrealised profits and mid-year acquisition of a subsidiary

 define and identify an associate

 describe the principle of equity accounting

and answer questions relating to these areas.

The underpinning detail for this Chapter in your Notes can be found in
Chapters 21 and 22 of your Study Text

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