List two situations when consolidation of a subsidiary

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Problem 1: You are the CFO of a Canadian parent corporation. Explain you would hedge your company's U. S. dollar account receivable of $ 2,000,000 due in 90 days using a forward contract.

Problem 2: Based on IFRS, consolidated financial statements are normally required when a parent company controls a subsidiary. List two situations when consolidation of a subsidiary is not required by a parent company.

Problem 3: Explain how recording of restricted donation revenue differs between the deferral method and the restricted fund method of accounting.

Reference no: EM132966973

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