dominant influence

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An influence that can be exercised over a company to achieve the operating and financial policies desired by the holder of the influence, notwithstanding the rights or influence of any other party. If one organization exerts such a dominant influence over a company, this company should be treated as a subsidiary of the organization and consolidated into the group accounts of the organization. This principle is made clear in Financial Reporting Standard 2, Accounting for Subsidiary Undertakings. The relevant International Accounting Standard is IAS 27.

Subjects: Accounting.

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