Question: (a) Explain whether a subsidiary needs to prepare accounts to the same date as the parent company. [4 marks] (b) Explain the consolidation adjustment needed

(a) Explain whether a subsidiary needs to prepare accounts to the same date as the parent company. [4 marks]

(b) Explain the consolidation adjustment needed in group retained earnings and group inventory account for unrealised profit arisen from trading of goods. [4 marks]

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