Applying the principles of control in IFRS 10 Consolidated Financial Statements, as described in…

Applying the principles of control in IFRS 10 Consolidated Financial Statements, as described in Section 22.3.2 of this chapter, you are required to consider whether certain investments of Austin plc are subsidiaries.

Austin plc has investments in a number of companies, and the company’s accountant has asked your advice on whether certain of these companies should be treated as subsidiaries under IFRS 10 Consolidated Financial Statements.

(a) Austin plc owns 45% of the voting shares of Bond Ltd.

(b) Austin plc owns 60% of the voting shares of Bradford Ltd and Bradford Ltd owns 30% of the voting shares of Derby Ltd. Recently, Austin plc purchased 70% of the voting shares of Coventry Ltd. Coventry Ltd owns 30% of the voting shares of Derby Ltd. The accountant believes Derby Ltd is not a subsidiary of Austin, as Austin effectively owns only 39% of the shares of Derby – 60%  30% = 18% through Bradford and 70%  30% = 21% through Coventry.

(c) Recently, Austin plc purchased 60% of the ordinary shares of Norwich plc.

Prior to the purchase, Norwich plc had in issue 6,000,000 ‘A’ shares of £1 each. Each ‘A’ share carries a single vote. These shares were owned equally by each of the directors of Norwich plc. For the purchase, the directors of Norwich plc sold 2,000,000 ‘A’ shares to Austin plc, and Norwich plc issued 4,000,000 ‘B’ shares of £1 each to Austin plc. ‘B’ shares do not carry a vote.


Consider and, where appropriate, discuss whether the following companies are subsidiaries of Austin plc:

(a) Bond Ltd

(b) Derby Ltd

(c) Norwich plc.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Online Academic Experts
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
English 101
great summery in terms of the time given. it lacks a bit of clarity but otherwise perfect.
Customer 452747, June 9th, 2021
Very fast response and did a excellent job.
Customer 453201, May 31st, 2022
Thank youuuu
Customer 452729, May 30th, 2021
Classic English Literature
It was my first time using such a service. Essay was good and nicely formatted.
Customer 452441, February 16th, 2022
Business Studies
Thank you very much for a good job done and a quick turn around time.
Customer 452615, March 31st, 2021
Thank you
Customer 453087, March 5th, 2022
Business Studies
First of all, the writer made sure that he completely understood my assignment and all the guidelines before he began writing. My paper was finished very fast and well before the specified deadline. I thought it was written excellently. He definitely completely grasped the topic. Overall, he is a great writer and I couldn't have asked for better.
Customer 452441, November 29th, 2021
thank you!
Customer 452947, October 21st, 2021
Human Resources Management (HRM)
On time and as always a great service! This semester has been very time consuming a tough for my family so this service has not only been a life saver but helped me keep up my grades! If you are in a time crunch or need help, don't hesitate! They are worth it!
Customer 453077, April 4th, 2022
quick, fast and exact!
Customer 453027, May 24th, 2022
Business and administrative studies
awesome work
Customer 453201, June 15th, 2022
Social Sciences
Very fast report with excellent information on the topic. Thank you for your speedy service in such a short time.
Customer 453213, June 15th, 2022
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Live ChatWhatsApp