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In this edition, we have discussed how the new consolidation rules under IFRS may have significant financial reporting implications for investment companies (IC) and fund managers, which in turn may require reassessment of previous consolidation conclusions. The article also discusses FASB’s new proposal on accounting by investment property entities (IPE) - being a relatively new concept under US GAAP. Finally, where relevant, the accounting guidance for IC and IPE has been contrasted between US GAAP and IFRS. |
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