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Fourth, cash flow activities are also combined for all entities to form a single statement of cash flows.
As you can see, it’s almost like we combined all the entities into one and disregarded any existing intercompany accounts that were on the books of the individual companies.
IFRS 10 Consolidated Financial Statements outlines the requirements for the preparation and presentation of consolidated financial statements, requiring entities to consolidate entities it controls.
Control requires exposure or rights to variable returns and the ability to affect those returns through power over an investee.
A number of factors are considered in making this assessment.