Hi Mike,
If P owns 80% of S's shares, but there is no public trading of P's shares, is there a legal requirement to produce consolidated accounts?
P does not file financial statements on a public market.
Many thanks,
Andrew
Ask the Tutor ACCA FR
Mandatory Group Accounts or not?
11y ago#1It really isn't applicable for F7 but this is what I think ..... I believe that IFRS3 requires the preparation of group financial statements wherever a company has one or more subsidiaries ....... but I could be wrong there
Given that it's of little relevance to F7 I'm afraid to say that I have never bothered to research it - sorry
Thanks Mike - appreciate the quick reply!
11y ago#3You're welcome
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