Section 1601 - Consolidated financial statements
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Effective date: |
January 1, 2011 |
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Published by the AcSB: |
December 2009 |
Reach out to our Section 1601 Specialist |
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Overview
This Section establishes standards for the preparation of consolidated financial statements. This Section specifically discusses consolidation accounting following a business combination that involves a purchase of an equity interest by one company in another. The principles in this Section are also to be used as a general guide in situations involving a combination or consolidation other than through purchase of an equity interest or involving unincorporated businesses.
History of Section 1601
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Date |
Development |
Comments |
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December 2009 |
Part II of the CPA Canada Handbook issued |
Effective for fiscal years beginning on or after January 1, 2011. Earlier application is permitted. |
Note: The above summary does not include details of consequential amendments made as the result of other projects.