How might process under a GAAP basis compare to IFRS basis

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Problem 1: When preparing consolidated financial statements, which of the parent company's account balances must always be eliminated and why must they be eliminated?

Question 1: How might this process under a GAAP basis compare to that under an IFRS basis?

Question 2: Are there any ethical aspects that need to be addressed?

Reference no: EM132463505

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