Deakin University MAA363 Corporate Accounting Assignment Solution

This document presents a comprehensive solution to a corporate accounting assignment. It includes detailed journal entries for consolidation adjustments, a consolidated worksheet demonstrating the combination of financial statements, and an analysis of control based on AASB 10. The assignment examines the control of Flora Ltd over Testa Ltd and Ziggy Ltd, considering factors like voting rights and director appointments. The solution incorporates adjustments for land revaluation, share capital, plant replacement reserve, retained earnings, goodwill, and various income and expense items. It demonstrates the process of eliminating intragroup balances and transactions to prepare consolidated financial statements, providing a clear understanding of the consolidation process.