1) Prepare the consolidated statement of financial position of Aubin Plc as at 30 September 2015. 2)...
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Question:
1) Prepare the consolidated statement of financial position of Aubin Plc as at 30 September 2015.
2) Intercompany transactions, receivables, liabilities and unrealised profits are eliminated on consolidation.
a. Discuss 3 examples of intercompany transactions.
b. What is meant by ‘are eliminated’?
c. Explain what effect there could be on the consolidated financial statements if they were not eliminated.
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