Please share your knowledge on the following: 1. Intercompany elimination of AP & AR? I understand the AR part- you take out the amount payable by ‘P’ to ‘S’ from S’s recievables by the proportion of P’s share. But why in AP we take out the P’s proportion from S’s payables?? Should we do that from P’s payables? 2. If anybody could tell me why on question 1 E for reading 21 (vol 2 of CFAI books) we didn’t do MVA for 2000 & 2001? and rather just took the change of 2001? Thanks.