Corporate Accounting Assignment: AASB 101 Compliance
VerifiedAdded on  2020/05/28
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Homework Assignment
AI Summary
This document presents a comprehensive solution to a corporate accounting assignment focusing on the preparation of consolidated financial statements. The solution addresses two primary questions. The first question involves preparing the consolidation worksheet entries for the preparation by Sam Ltd of its consolidated financial statements at 30 June 2017, detailing the adjustments needed for assets, liabilities, equity, and goodwill, along with journal entries for various transactions. The second question focuses on preparing the statement of financial position and statement of changes in equity to comply with AASB 101, presenting the asset, liability, and equity sections, along with the changes in equity over the period. The solution includes detailed calculations and adjustments, ensuring compliance with accounting standards and providing a clear understanding of the consolidation process. Additionally, the document includes a bibliography of relevant academic sources.
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