(a) Explain what is meant by the terms associate and significant influence. (b) Explain the equity method...
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(a) Explain what is meant by the terms "associate" and "significant influence".
(b) Explain the equity method of accounting which is used to account for an investment in an associate. Also explain how this differs from the consolidation approach which is used in relation to subsidiaries.
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a Associate An associate is an entity over which an investor has significant influence but not contr...View the full answer
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