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Our accountant has informed me that we need to eliminate the intra-group transactions before we prepare the consolidated financial statements. I dont understand why we
Our accountant has informed me that we need to eliminate the intra-group transactions before we prepare the consolidated financial statements. I dont understand why we need to record these transactions in the first place, when we end up eliminating them. I dont have an accounting background, but it makes sense not to record these transactions in any books when we end up deleting them in the worksheet later?
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