Prepare consolidated financial statements

Reference no: EM132634150

Question - Read the Annual Report including the financial statements of the Group and a Memorandum to the Board of Directors clearly explaining some of the technical aspects of consolidation.

Make sure you draw on the company's specific details to explain the intricacies of consolidation to the Board and as much as possible avoid answering in general terms. Please make sure that your assignment is in a MEMO

1. Why did the parent entity have to prepare consolidated financial statements when the subsidiary company is a separate legal entity in its own right?

2. Does the published set of group financial statements reveal the company's policy on corporate governance, audit committees, sustainability and solvency? Does it reveal these issues and if so where and why?

3. Has there been any goodwill on the acquisition? Or any gain on bargain purchases? Where would you find it in the financial statements and what does it mean? Any impairment to consider?

4. Any other relevant matter that you may wish the Board of Directors to make note of in respect of some transaction or event, the balance of account or disclosure that will assist them in understanding the financial statements of the group.

Reference no: EM132634150

Questions Cloud

Determining the cost of getting a loan at a bank : If we were talking about bank loans, we would look at the cost of getting a loan at a bank.

Find the cash received from customers : H Company's accounting records show: Credit sales for the year 600,000. Find thecash received from customer

Determine if is achieving each of the CSFs : Determine if is achieving each of the CSFs. Analyze each CSF and use data from the measures indicated in the Balanced Scorecard as support for the conclusions

Explain what is meant by authority : Explain what is meant by authority. How can authority be centralized?

Prepare consolidated financial statements : Why did the parent entity have to prepare consolidated financial statements when the subsidiary company is a separate legal entity in its own right

Automated tool for sql injection and database : Discussing sqlmap, an automated tool for sql injection and database

What is the most effective learning theory : a. How does increased Emotional dissonance affect one's personality?

Why ethics consider so important when studying organization : Why are ethics considered so important when studying organizational behavior? Unethical behavior makes it easy to influence others and conduct business.

Explain what is meant by authority : Explain what is meant by authority. How can authority be centralized?

User Account

All Pages