AFA_Lec_36 - Advanced Financial Accounting Lec-37 Group...

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Advanced Financial Accounting Lec-37
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Group Accounts
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Control Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
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Control 1. The parent company has owned more than 50% of subsidiary company (Each ordinary share capital has one voting right). 2. The parent company has power over more than 50% of the voting rights of subsidiary company by virtue of agreement with other shareholders of it. 3. The parent company has power to govern the financial and operating policies of subsidiary company by statute or under an agreement. 4. The parent company has power to appoint or remove a majority of the directors of subsidiary company. 5. The parent company has power to cast the majority of votes at meetings of the board of directors of subsidiary company.
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Consolidated Accounts 1. Consolidated balance-sheet. 2. Consolidated income statement.
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AFA_Lec_36 - Advanced Financial Accounting Lec-37 Group...

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