Parentsubsidiary relationship LO1, 2, 3 Visit the website of Woolworths Limited (www.woolworthslimited.com.au) and retrieve the most

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Parent–subsidiary relationship  LO1, 2, 3 Visit the website of Woolworths Limited (www.woolworthslimited.com.au) and retrieve the most recent annual report. Required 1. Identify and discuss the principles of consolidation used as disclosed in note 1 to the consolidated financial statements. 2. Identify the subsidiaries, as disclosed in the notes to the consolidated financial statements, describing the differences between the wholly owned and partially owned subsidiaries. 3. Discuss potential reasons the regulators require Woolworths Limited to prepare consolidated financial statements.

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