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Why did the parent entity have to prepare consolidated

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Reference no: EM132592688

You will select a set of Financial Report of an ASX Listed Company. Read the Annual Report including the financial statements of the Group and prepare a Memorandum to the Board of Directors clearly explaining some of the technical aspects of consolidation. Make sure you draw on the company's specific details to explain the intricacies of consolidation to the Board and as much as possible avoid answering in general terms.

Question 1. Why did the parent entity have to prepare consolidated financial statements when the subsidiary company is a separate legal entity in its own right?

Question 2. Does the published set of group financial statements reveal the company's policy on corporate governance, Audit committees, Sustainability, Solvency? Does it reveal these issues and if so where and why?

Question 3. Has there been any goodwill on the acquisition? Or any gain on bargain purchase? Where would you find it in the financial statements and what does it mean? Any impairment?

Question 4. Any other relevant matter that you may wish the Board of Directors to make note of in respect of some transaction or event, the balance of account or disclosure that will assist them in understanding the financial statements of the group.

Reference no: EM132592688

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