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Syllabus D2. I/C adjustments and URP

Syllabus D2

I/C adjustments and URP 7 / 10

• Explain why intra-group transactions should be eliminated on consolidation.
• Report the effects of intra-group trading and other transactions including:
– unsettled intra-group balances at the year- end
– unrealised profits in inventory and non current assets
– intra-group loans and interest and other intra-group charges, and
– intra-group dividends.