Parco has the following three subsidiaries: Finco, Serco, and Euroco. Finco is a 100% owned finance subsidiary. Serco is an 80% owned service company. Euroco is a 100% owned foreign subsidiary that conducts operations in Western Europe. Which one of the following is the most likely number of entities, including Parco, to be included in Parco's consolidated financial statements?
IFRS 10 says that if the company A has control of the company B, which means that the Company A owns more than 50% of the company B. Then Company A must publish consolidated Financial stement which includes the sum of two company accounts, A and B.
So this means, according to IFRS 10, Finco, Serco and Euroco must be included in the Parco's Consolidated Financial Statements.
