What are the key elements of control

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Reference no: EM132893660

Consolidation: controlled entities

1. What are the consolidated financial statements?

2. What is the purpose of preparing consolidated financial statements?

3. What is a group, a parent and a subsidiary?

4. What is a parent-subsidiary relationship?

5. How many parents can a group have?

6. Why do the regulators require the parent entity to prepare consolidated financial state- ments?

7. What is meant by the term ‘control'?

8. What are the key elements of control?

9. When does an investor have power over an investee?

10. What are ‘relevant' activities?

Reference no: EM132893660

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