Before undertaking the consolidation process, it may be necessary to make the following adjustments in relation to the individual statements if the end of the subsidiary's financial period does not coincide with the:
A) the parent will prepare its own financial statements as at the end of the subsidiary's financial period.
B) the subsidiary will prepare its own financial statements as at the end of the parent's financial period.
C) the parent will prepare its own financial statements as at 30 June if the end of the parent's reporting period is not 30 June.
D) the subsidiary will prepare its own financial statements as at 30 June if the end of the parent's reporting period is not 30 June.

Question

Quizplus · Accepted Answer

The subsidiary should align its financial statements with the parent's reporting period to ensure consistency and accuracy in the consolidation process.

Before Undertaking the Consolidation Process, It May Be Necessary to Make