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One way for families to gain control over firms,even when they do not own more than half the shares,is to issue:
AASB 12/IFRS 12
Disclosures of Interests in Other Entities, a standard that sets the requirements for disclosing information about an entity's interests in subsidiaries, joint arrangements, associates, and unconsolidated structured entities.
Voting Rights
Rights granted to shareholders to vote on company matters, such as electing the board of directors or approving corporate policies.
Significant Judgements
Decisions made by management in the preparation of financial statements that have a significant impact on the amounts and disclosures in those financial statements, often requiring considerable estimates.
Consolidated Financial Statements
Financial statements of a group in which the assets, liabilities, equity, income, expenses, and cash flows of the parent company and its subsidiaries are presented as those of a single economic entity.
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