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What is meant by significant influence

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The standard defines an associate as an entity over which an investor has 'significant influence'. IAS 28 states that associates should be accounted for using the equity method in the consolidated financial statements. However, equity accounting, and its purpose, have been increasingly criticised in recent years.

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Problem 1: Within the context of IAS 28, explain what is meant by 'significant influence'.

Reference no: EM132765842

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