After combining like items, we need to , but here, we’re not going to complicate the things.
Then we need to recognize any non-controlling interest and goodwill.
Therefore, when a group controller calls you every five minutes to remind you the consolidation package, you’ll know why!
In our case study, combined numbers looks as follows: Of course, there are some strange and redundant numbers, for example both Mommy’s and Baby’s share capital, but we haven’t finished yet!
The “exam-style” of making consolidated financial statements is good and easy when there are just a few issues or complications.