Under AASB 10 parent companies may choose whether to present one set of consolidated accounts or to provide two or more sub-sets of the consolidated accounts to cover the whole group.

Question

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Under AASB 10, parent companies are required to present consolidated financial statements that include all subsidiaries, without the option to present separate subsets of consolidated accounts for different parts of the group.

Under AASB 10 Parent Companies May Choose Whether to Present