The most recent available financial
statements of the associate are used
by the investor in applying the equity
method. When the end of the
reporting period of the investor is
different from that of the associate,
the associate prepares, for the use of
the investor, financial statements as
of the
same date as the financial
statements of the investor unless it is
impracticable to do so.
When it is impractical to align the
period ends, adjustments shall be
made for the effects of significant
transactions or events that occur
between that date and th
e date of the
investor’s financial statements
(limited to a gap of no more than
three months)