Question
Summer Company is a listed public company and has a 60% controlling interest in Winter Company. Winter Company is the parent of Starlight Company with
Summer Company is a listed public company and has a 60% controlling interest in Winter Company. Winter Company is the parent of Starlight Company with no financial instruments issued in a public market. In which of the following situations will Winter Company not be required to prepare consolidated financial statements? Winter Company would never be required to prepare consolidated financial statements. If the other owners of Winter Company have consented to the non-preparation of consolidated financial statements. Where it is likely that there are external users dependant on the information. If Winter Company prepares separate financial statements that comply with IFRS.
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