IFRS 10Chapter 1Lesson 1
Who must consolidate? The requirement and its exemption
Step 1 of 5Learning objectives
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A parent presents consolidated financial statements that treat the group as a single economic entity; it is relieved of this when it meets all the conditions of the exemption.
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Learning objectives
- Explain why a parent presents consolidated statements and how one knows that an entity is a parent.
- Identify, from the facts of a case, the entity that must present consolidated statements.
- Check the cumulative conditions that relieve an intermediate parent from consolidating.