CS代写 AASB 10 (Section 1.2)

Q1.1 Important terminology in AASB 10 (Section 1.2)
The terms will be defined with reference to the following organisational structure.
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A Ltd (Parent)

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B Ltd (Subsidiary)
C Ltd (Subsidiary)
Parent entity: A parent is an entity that has one or more subsidiaries (AASB 10.Appendix A). In the above illustration, A Ltd is the parent entity of B Ltd and C Ltd because it has direct control over B Ltd and indirect control over C Ltd. It should be noted that B Ltd is also a parent entity to C Ltd.
Ultimate parent entity: The ultimate parent entity in the above illustration is A Ltd because it has ultimate control over the A Ltd Group, B Ltd, the B Ltd Group and C Ltd.
Subsidiary: A subsidiary is an entity, including an unincorporated entity such as a partnership that is controlled by another entity known as the parent (AASB 10.Appendix A). In the above illustration, B Ltd and C Ltd are subsidiaries to A Ltd because A Ltd controls them through a singular line of power. C Ltd is also a subsidiary to B Ltd.
Group: A group consists of a parent (entity) and all its subsidiaries (AASB 10.Appendix A). In the above illustration, the A Ltd group comprises A Ltd and its controlled entities B Ltd and C Ltd. It should be noted that there is also a B Ltd group made up of B Ltd (parent entity of the B Ltd group) and C Ltd (its subsidiary).
The A Ltd Group
The B Ltd Group

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