(a) Explain what is meant by the terms associate and significant influence. (b) Explain the equity method...

Question:

(a) Explain what is meant by the terms "associate" and "significant influence".

(b) Explain the equity method of accounting which is used to account for an investment in an associate. Also explain how this differs from the consolidation approach which is used in relation to subsidiaries.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: