Adv_Acct_Project

Adv_Acct_Project - Binh Thai Quentin Smith Jim Srour John...

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Binh Thai Quentin Smith Jim Srour John Cochran Centcom Project ACCT 7330 Section 10791 The Centcom Inc. case presents several aspects to consider regarding the financial presentation of Britel. In determining whether to consolidate Britel with Centcom, the TTL Group L.L.C. or neither, the answer is assessed by a preponderance of the determiners instead of a simple, single code section. Two primary sections of the International Financial Reporting Standards (IFRS) code address the relevant factors for this case. These two sections are IFRS 3 Business Combinations and IAS 27 Consolidated and Separate Financial Statements. A few key elements of the arrangement indicate the germane sections to decide the presentation. According to IAS 27.13, “controls presumed to exist when the parent owns, directly or indirectly through subsidiaries, more than half of the voting power of an entity unless, in exceptional circumstances, it can be clearly demonstrated that such ownership does not constitute control.” In this case, Centcom entered into an
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Adv_Acct_Project - Binh Thai Quentin Smith Jim Srour John...

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