Q1. a) Discuss four prescriptions contained in AASB 10 Consolidated Financial Statements when applying to the consolidation process.
b) Discuss four issues that may challenge existing policies and procedures of the consolidation process when applying AAASB 10 Consolidated Financial Statements.
Q2. Why is it necessary to make adjustments for intragroup transactions? When does an intragroup transaction consolidation adjustment require us to perform a consolidation adjustment to tax expense?