Accounting for subsidiaries (ASPE) Flashcards
1
Q
Accounting for subsidiaries (ASPE)
A
An enterprise can make an accounting policy choice to account for its subsidiaries using one of the following methods:
* Cost method
* Equity method
* Consolidation method
** Once a method has been selected, it must be applied consistently (i.e. all subsidiaries must be accounted for using the same method)
Reference: ASPE 1591, ASPE 3051
