Advanced Financial Accounting and Reporting (AFAR) · Lesson 11 of 13

Consolidated Financial Statements (PFRS 10)

Apply the three elements of control, run the elimination entries at and after acquisition, amortise fair value adjustments and see how they cut the subsidiary's profit, attribute profit and total comprehensive income between the parent and the non-controlling interest, build consolidated retained earnings and closing NCI, and treat a change in ownership without loss of control as an equity transaction.

20 min read · Super Ea