Issues in Consolidated Financial Statements of Engineering & Construction PLC

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Objective
The main objective of the report is to focus
on the issues those were not treated
appropriately by Engineering & Construction
PLC while preparing the consolidated
financial statements (CFS). Hence, the
report will highlight the issues regarding the
control concept, significant influence and
amount of goodwill arising on the date of
acquisition

It will further guidance on account of
the key aspects of the above
mentioned concepts for including the
purpose and importance under group
reporting and obligations to provide
the same. Finally the report will
provide conclusion based on the
discussion (Müller 2014).

Scope
The standard shall be applied in respect of
accounting for the investments in associates in
presentation and preparation of the
consolidated financial statements by the
investor. However, it does not deal with the
investment accounting in the associates in
preparing and presenting of the separate
financial statements by the investors.