User Account

All Pages

Produce consolidated financial statements

Assignment Help Accounting Standards
Reference no: EM13158076 , Length: 2000 Words

RESEARCH TOPIC

Polaris Ltd is a public company which is listed on the Australian Securities Exchange and has numerous small shareholders. Polaris Ltd owns 35% of the issued ordinary shares of Beta Ltd. The remaining shares of Beta Ltd are widely distributed among numerous small shareholders, none of which own more than 4% of Beta Ltd. Beta Ltd's constitution provides that at general meetings of the company, ordinary shareholders are entitled to vote on resolutions and elect directors, on the basis of one vote per ordinary share.

At general meetings of Beta Ltd, resolutions proposed by Polaris Ltd are invariable passed, and candidates for directorships nominated by Polaris Ltd are invariable elected, because many small shareholders in Beta Ltd do not exercise their right to attend general meetings and vote.

REQUIRED

Advise Polaris Ltd whether it is required to produce consolidated financial statements (CFS). Consider the levels of control and the members' rights in your answer.

Verified Expert

Reference no: EM13158076

Questions Cloud

Does biological evolution have any bearing on moral : Does biological evolution have any bearing on moral or ethical aspects of human life? Should biological evolution inform our morality? If biology has no role in discussions of ethics and morality, what should be the basis for these discussions?
What is electromechanical safety in angiography : What is electromechanical safety in Angiography? Is it considered in quality control of the system?
Sole proprietorship to blue corporation : Five years ago, Eleanor transferred property she had used in her sole proprietorship to Blue Corporation for 1,000 shares of Blue Corporation in a transaction that qualified under § 351.
What is precipitating cause of particular type of arthritis : What is the precipitating cause of this particular type of arthritis?
Produce consolidated financial statements : Advise Polaris Ltd whether it is required to produce consolidated financial statements (CFS). Consider the levels of control and the members' rights in your answer.
Which category of organisms is responsible for fixing : Which category of organisms is responsible for fixing the world's supply of carbon?
Solutions to problems and issues : Why do you think it is difficult for you to criticize your own ideas and solutions to problems and issues? Why is it important to criticize your own ideas?
Analysis of the costs and benefits : Present a local environmental issue or problem ,a solution or solutions to the problem, an analysis of the associated costs and benefits of the solutions and a determination of the best solutions based on your analysis of the costs and benefits.
Which feature best distinguishes protist from other eukaryos : Which feature best distinguishes protists from other eukaryotes?

Reviews

Write a Review

Accounting Standards Questions & Answers

  Describe the iasb conceptual framework''s

Describe the IASB Conceptual Framework's perspective of users and their decisions

  International business operations

Advantages and disadvantages of each.  Which do you believe would be the most beneficial to DSV and Eastrex?

  Convergence of international financial reporting standards

Convergence of international financial reporting standards

  Statement of comprehensive income for the year

Statement of comprehensive income for the year ended 31 December 2012 and statement of financial position as at 31 December 201

  Ias3/aasb 3 business combinations

IAS3/AASB 3 Business Combinations IAS116/AASB116 Property, plant and equipment IAS138/AASB138 Intangible assets

  Scope of issue from the ifrs

Please give suggestion and the scope of this issue from the International Financial Reporting Standard.

  Explain diversity through annual reports

Explain diversity through annual reports of foreign companies on the internet.

  What is city current average cost per hip replacement visits

They have offered to guarantee 1000 patient visits per year and want to pay $70 per visit. City Rehab currently receives $95 per visit directly from Medicare

  The proposed accounting standard

The proposed accounting standard for leases is just another layer of significant added complexity to already complex financial statements which will further reduce the usefulness for all users unless they have an academic degree,- says Tom Pockett, W..

  Review the financial statements

Select a public university system and review the financial statements and audit report for the system. Write a three to four (3-4) page paper in which you: 1.Identify and analyze the employee pension plan disclosures in the financial statements.

  Write a report on a new photocopier

You work for an accounting firm. Your supervisor asks you to write a report on a new photocopier which the accounting firm can purchase. In addition to information about its hardware, software, and user friendliness, he/she wants a recommendation ..

  Journal entries to record these liquidation transactions

Prepare journal entries to record these liquidation transactions and prepare journal entries to record the preceding transactions on the assumption that the bonus (or no revaluation) method is used.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd