Intragroup items and consolidated statements

Learning objectives

• Distinguish the disclosures made in an entity's own (separate or individual) financial statements from those in the consolidated financial statements for intragroup transactions.L2, L3

Normative references

• IAS 24 §4Related party transactions and outstanding balances with other entities in a group are disclosed in the entity's financial statements; in the consolidated financial statements, intragroup related party transactions and balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• An analyst comments on how the Aurelio group presents intragroup transactions. Which statement is wrong?L3