Hello, could someone please answer my question: In general, is a parent company obliged to use IFRS (instead of, lets say, national accounting system), provided that its subsidiary IS obliged to use IFRS (because of public trading with securities), or isn´t? Thank you very much. Milan
Obligation to use IFRS
Answers
I've seen it done both ways. If different methods are used, let's sat GAAP and IFRS, then the GAAP books are adjusted for consolidated reporting.
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