Define each of the following in accordance with the Companies Act 2006, IFRS 3 Business Combinations
Question:
Define each of the following in accordance with the Companies Act 2006, IFRS 3 – Business Combinations (IASB, 2018a) and International Financial Reporting Standard 10 – Consolidated Financial Statements (IASB, 2018b):
a. A group;
b. A subsidiary;
c. Consolidated financial statements;
d. Consolidation.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
a A group is an entity consisting of a legal entity which may be a legal person jointstock company and any other similar entity and two or more separate legal entities forming part of a group i The di...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
Question Posted:
Students also viewed these Business questions
-
The following financial information of Sub Ltd has been extracted from its financial records for the year ended 31 March 2020: On 1 April 2004, Investor Ltd acquired a percentage of the equity of...
-
Parent Ltd acquired all the equity in Sub Ltd on 1 April 2004 for $1 000 000. Sub Ltd had disclosed a contingent liability of $30 000 and an unrecognised intangible asset of $45 000. The equity of...
-
International Inc. owns companies or the stock of companies in countries all over the world. International is reviewing its methods of accounting for those companies and has asked you to provide...
-
Hombran Doughnuts has current assets of $270 million; property, plant, and equipment of $400 million; and other assets totaling $160 million. Current liabilities are $160 million and long-term...
-
You are engaged in the annual audit of the financial statements of Maulack Corp., a medium-sized wholesale company that manufactures light fixtures. The company has 25 shareholders. During your...
-
Distinguish among translation exposure, transaction exposure, and economic exposure. Define each concept and then indicate how they may be interrelated.
-
List the three most valuable items that you own that would fall into the category of personal possessions.
-
Deborah Kellogg buys Breathalyzer test sets for the Denver Police Department. The quality of the test sets from her two suppliers is indicated in the following table: For example, the probability of...
-
Closing entries with net income Instructions Chart of Accounts Journal Final Question Instructions X Assume that the entry closing total revenues of $962,500 and total expenses of $763,200 has been...
-
During the first month of operations, Augusta Services, Inc., completed the following transactions: Requirements 1. Record each transaction in the journal. Be sure to record the date in each entry....
-
The summarized statement of financial position for Turner plc at 31 May 20X0 was as follows: On 1 June 20X0, 200,000 shares were offered to the public at 60p, 20p payable on application, 20p on...
-
The authorized and issued share capital of Forward Ltd as at 31 May 20X0 was 150,000 equity shares of 1 each, fully paid. On 1 June 20X0, the authorized share capital was increased to 225,000 divided...
-
An "energy bar" contains 22 g of carbohydrates. How much energy is this in joules? In calories? In Calories?
-
Read the following article from The Marshall Project https://www.themarshallproject.org/2023/08/31/dungeons-and-dragons-texas-death-row-tdcj Ask yourself a few things: 1. What is the Marshall...
-
To avoid being a price taker, you understand that you have to differentiate your product so you face a specific demand curve for your product that is downward sloping. Now you can raise price for...
-
where: Calculate the cost of equity for a hypothetical private firm (rate of return for private investors) under the following circumstances. (8pts): cost of common equity 10% advisory premium 11%...
-
Carla is a 14-year-old female who lives with hermom and 17-year-old brother. She has had annual preventive healthcare from birth and has grown along average height and weight trends. Her medical...
-
Your little sister starts talking about a family vacation thatyou had gone on quite some time ago when she was only 3 years old.She swears she remembers the trip but you are skeptical. How wouldyou...
-
Rosborough Company provides property management services to a variety of companies. At its fiscal year end on April 30, 2014, adjustments were required for the following items: 1. Service revenue of...
-
Uniform electric field in Figure a uniform electric field is directed out of the page within a circular region of radius R = 3.00 cm. The magnitude of the electric field is given by E = (4.50 x 10-3...
-
The annual report of General Mills, maker of Wheaties, Cheerios, and Betty Crocker baking products, for the year ended May 29, 2011, contained the following ($ in millions): During fiscal 2011,...
-
Asahi Kasei Corporation has sales nearly the equivalent of US$10 billion. The company included the following in its balance sheet for the year ended March 31, 2011 ( in millions): Property, plant,...
-
The Ford Motor Companys footnotes included the following ($ in millions): The notes to the income statement for 2011 revealed depreciation and amortization expense of $3,533 million. The account...
-
Use the following assumptions below to answer the following questions. Asking Price: $249,500 Total Sq. Ft.: 2,028 Total Units: 2 Avg. Monthly Rent per Unit: $1,625 Annual Rent Growth: 3.0%...
-
GAAP requires that O all companies that issue an annual report should issue interim financial reports. O the three basic financial statements should be presented each time an interim period is...
-
(a) What is a Pre-Acquisition Elimination Entry and what does it do to the Group Consolidation? b) Why does the Pre-Acquisition Elimination Entry change from the date of acquisition to subsequent...
Study smarter with the SolutionInn App