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Group AccountsA company can have investments in other companies in the form of: ordinary shares, preference shares and loan stock. The investment in ordinary shares leads to ownership and therefore requires further consideration. The investment in the ordinary shares can be summarized diagrammatically as follows;
NOTE:1. Company A is referred to as a subsidiary company and is accounted as per the requirements of 1AS 27 “ subsidiary company and separate financial statements.”2. Company B is a jointly controlled entity and is accounted for according to the requirements of 1AS 31 “joint ventures”.3. Company C is an Associate company and is accounted for as per requirements of 1AS/28 “Associate companies”.4. Company D is a pure investment accounted for as per requirements of 1AS 32 and 39 “financial instruments.Jointly controlled entities and pure investments are beyond scope.
Van Aalst Company's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet
Basics of Sundry Matters Current accounts balances must always be equal and opposite. The head office current account in the branch books should always have a credit bal
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Illustration of marked up by an additional amount E Limited sent goods to its branch in Thika invoiced at selling price, which was cost plus 505 of cost. On 1st July 20X2, the
An annuity is explained as stream of uniform duration cash flows. The payment of life insurance premium through the policyholder to the insurance company is an illustration of an a
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