The following is an extract from the notes to the 2013 consolidated financial statements of the Chugoku
Question:
The following is an extract from the notes to the 2013 consolidated financial statements of the Chugoku Electric Power Company, Incorporated:
For the year ended March 31, 2013, 10 affiliated companies were stated at cost without applying the equity method.
Discuss:
(a) Why these affiliated companies are being reported at cost;
(b) The effect on the consolidated retained earnings if they had been reported using the equity method.
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Related Book For
Financial Accounting And Reporting
ISBN: 9781292255996
19th Edition
Authors: Barry Elliott, Jamie Elliott
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