Parent plc acquired Son plc at the beginning of the year. At the end of the year there were intangible assets reported in the consolidated accounts for the value of a domain name and customer lists....

Parent plc acquired Son plc at the beginning of the year. At the end of the year there were intangible assets reported in the consolidated accounts for the value of a domain name and customer

lists. These assets did not appear in either the Parent or Son’s Statements of Financial Position.

Required: Discuss why assets only appear in the consolidated accounts.?

Aug 25, 2022

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Parent plc acquired Son plc at the beginning of the year. At the end of the year there were intangible assets reported in the consolidated accounts for the value of a domain name and customer lists....

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