Page 309 - F1 Integrated Workbook STUDENT 2018
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Consolidated Statement of Financial Position
Consolidated statement of financial
position
3.1 Key questions
% Share of ownership – Subsidiary or Associate or both.
Date of acquisition & reporting date.
A standard approach to preparing consolidated financial statements is adopted within
the manual in order to aid the learning process. However, assessment on this will be
largely in the form of OTQ's which will only test one or two principles at a time. You
will not be expected to prepare consolidated financial statements in totality. It is
therefore important you understand the accounting entries behind the workings and
adjustments.
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