ACCA FR Syllabus A. The Conceptual And Regulatory Framework - Exemptions from the preparation of consolidated accounts? - Notes 5 / 10
Always produce group accounts...unless
Exceptions
The parent is itself a 100% subsidiary
The parent isn't a 100% sub but the other owners don't mind the parent not preparing group accounts
The parent's loans or shares are not traded in a public market
The parent didn't file its accounts with a stock exchange (in order to issue shares)
The ultimate parent already produces group accounts
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When is a group required to prepare consolidated financial statements
Syllabus A. The Conceptual And Regulatory Framework
A4. The Concept Of A Group
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Co-terminous Year-ends and Accounting policies
Syllabus A. The Conceptual And Regulatory Framework
A4. The Concept Of A Group