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Section 1601 - Consolidated Financial Statements & Section 1602 - Non-controlling Interests

Section 1601 applies to:

  • Consolidation accounting following a business combination that involves a purchase of an equity interest by one company in another.
  • The guidance in this Section can also be used in situations involving a combination or consolidation other than through purchase of an equity interest or involving unincorporated businesses.

Section 1602 sets out:

Standards for accounting for a non-controlling interest in a subsidiary in consolidated financial statements subsequent to a business combination

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BDO can help you navigate the road ahead

Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.

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