Labels:text | screenshot | letter | book | document OCR: Joint ventures Joint ventures are accounted for by means of the proportionate consolidation method, whereby the attributable share of assets and liabilities, revenues and expenses of the joint venture are incorporated in the consolidated financial statements. A proportionate share of intercompany items is eliminated. Subsidiaries Subsidiaries are consolidated except where otherwise indicated. Investments Investments are stated at cost less amounts written off. Investments are written down to give recognition to permanent declines in value as and when diminution takes place.
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