Assignment requires you to address the issues set out in the assignment. The task is to be done in a group of FIVE (5) to SIX (6). The assignment has three parts A, B and C. Part A requires you to create a company. On 1 January 2019, the company has acquired a subsidiary and on the 1st July, the same year, the company has acquired an associate company. Create the Statement of Financial Position, the Statement of Profit or Loss and the Statement of Changes in Equity for all the THREE companies. The accounts must be logic (particularly, Investment in subsidiary and Investment in associate company). Please note that the steps in Part A is only for the project purpose. In the real life practice, you need to record all the transactions occured during the year to come up with the financial statements. Part B requires you to prepare elimination entries to consolidate the accounts of the three companies. Part C requires you to prepare financial statements in accordance with the MFRSs and the Companies Act 2016.
Marks will be awarded for clarity of your answer and the overall presentation of your
assignment. Assigned assessment declaration must be attached to the front of the
Part A and B must be submitted electronically. Students must submit the final version
(all Parts) of the assignment in both electronic and manual format by 11:55PM on the