ias 8

This topic has 1 reply, 2 voices, and was last updated 9 years ago by MikeLittle.

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June 15, 2017 at 2:50 pm #393254
adarsh1997
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Hi Mike!

Could you explain how the following is not an accounting policy:
-Adjusting the financial statement of a subsidiary prior to consolidation as its accounting policies differ from those of the parent.
June 15, 2017 at 4:21 pm #393259
MikeLittle
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It’s a consolidation adjustment – it’s not illegal for the subsidiary to carry on with its own policies EXCEPT the directors of the parent shall secure as far as possible that consistent accounting policies are in use throughout the group

OK?
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