Consolidation Theory Flashcards
1
Q
What happens with intra-group balances on consolidation?
A
Are removed
2
Q
How is equity increased in consolidation?
A
Addition of NCI and post-acq retained earnings
3
Q
What do results of a consolidated statement include?
A
Income and expenses of any subsidiary during the year
4
Q
Does consolidation include all assets and liabilities in an entity?
A
Yes, and also the subsidiaries
5
Q
A
