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ACCA F7 Preparation of the Consolidated Statement of Financial Position part 1

VIVA

ACCA F7 lectures  Download F7 notes

Preparation of the Consolidated Statement of Financial Position

• Consolidation is the process of adjusting and combining financial information from the individual financial statements of a parent undertaking and its subsidiary undertakings to prepare consolidated financial statements that present financial information for the group as a single economic entity.

• the Consolidated Statement of Financial Position reflects the assets and liabilities within the control of the parent entity, and how they are owned.

• defined by IAS 27 Consolidated Financial Statements and Accounting for Investments in Subsidiaries, consolidated financial statements are “the financial statements of a group presented as those of a single entity”.


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Comments

  1. syednaser236 says

    June 2, 2018 at 12:22 am

    Are these lectures applicable for 2018 Decemeber attemot ?

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    • syednaser236 says

      June 2, 2018 at 12:23 am

      attempt*

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    • MikeLittle says

      June 2, 2018 at 6:09 am

      Yes they are still good for December. A fresh suite of lectures is in the course of preparation but it’s not certain when they will be ready to be uploaded.

      Meanwhile, what there is on site is applicable for December 2018

      OK?

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      • syednaser236 says

        June 3, 2018 at 12:47 am

        Thanks alot for clearing my doubtWas just worried if there are any additions made to the portion of F7 , but as you said .I will rely on these lectures and notes .

  2. nish437 says

    January 25, 2018 at 3:02 pm

    Very helpful lecture ! easy to follow and funny 🙂

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    • MikeLittle says

      January 25, 2018 at 3:57 pm

      Well, I’m glad we sorted out that little problem without too much pain 🙂

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  3. nish437 says

    January 25, 2018 at 10:15 am

    Ah i just realised i read the change in example 2- ignore me

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  4. nish437 says

    January 25, 2018 at 10:07 am

    Hi, Example 1 – RASA & TATJANA
    the working out in W3 doesnt seem to relate to the notes provided ….
    The subsidiary did make a profit here and he said they did not make a profit there it was 100% of nothing.

    But in the notes the pre was 10,000 and post was 14,000 so therefore 4000 which would be added to the figure of parent’s retained earnings of 22,000 and would equal to 26,000.

    Just want to make sure that is the correct way to do it ?

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  5. loukasierides says

    December 23, 2017 at 6:27 pm

    hahaha! ill do it your way it feels reassuring!

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