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13-Oct-2017 17:12

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As the consolidated accounts present results as a single entity, all inter-company transactions of companies included in the consolidation are excluded.

In this example a 50% holding is first treated as an associate using the equity method of accounting, then it is treated as a subsidiary using the full consolidation.

Financial Reporting Standard 2: Accounting for Subsidiary Undertakings This is the full text of the original standard as issued by the Accounting Standards Board in July 1992.

It does not include the amendments made in December 2004 and June 2009.

However, we can provide copies of the consolidated standard, which includes amendments, through the Library's premium databases by email.

These consolidated accounts are almost always what matter to investors.

Although the EU regulation adopting this standard/amendment has set a later effective date for mandatory application, earlier adoption is permitted.