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The document is a set of revision notes for Financial Accounting for Groups & Companies (FAGC), focusing on consolidation, non-controlling interests (NCI), and internal company transactions. It explains why companies combine, types of combinations (takeovers, mergers, joint ventures), and the IFRS standards governing group accounts (IFRS 10, IFRS 3, IAS 28). The notes detail the consolidation process, including steps for preparing group accounts, calculating goodwill, and handling NCI. It also covers mid-year acquisitions and adjustments for internal transactions like indebtedness, dividends, and inventory transfers. The material emphasizes the importance of group accounts for investor protection,prediction, and accountability, using examples like Tesco PLC to illustrate the need for consolidated financial statements. The notes are practical, with step-by-step guidance and journal entries for consolidation adjustments.
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