Where a parent is exempted from preparing consolidated financial statement under AASB 10 Consolidated Financial Statements,they are still required to present separate financial statements under AASB 127 Separate Financial Statements.

Question

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Even if a parent is exempted from preparing consolidated financial statements under AASB 10, they still have to prepare separate financial statements as per AASB 127.

Where a Parent Is Exempted from Preparing Consolidated Financial Statement