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Describe accounting standands should require consolidation

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Reference no: EM132631038

In New Zeland, NZ IFRS 10 Consolidated Financial Statements requires the consolidated financial statements to include all the subsidiaries of the ultimate parent.

Required:

Problem 1: Briefly describe whether accounting standands should require consolidation of subsidiaries or give firms an option to report the operations of firms' subsidiaries on an unconsolidated basis. Provide reasons.

Reference no: EM132631038

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