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Forums › ACCA Forums › ACCA FR Financial Reporting Forums › INTRA_GROUP TIPS
Any tips to understand the INTRA-group transactions?
Intra group transactions are basically trading or borrowing/lending between companies within the same Group. When the Group has to prepare consolidated accounts at the end of the reporting period, the Group is seen as a single entity. This means that as a single entity, the Group cannot trade with itself or borrow/lend to itself, so all intercompany transactions need to be eliminated on consolidation so as to present financial statements as a single entity.