This comprehensive lecture explains how to perform fair value adjustments on the assets and liabilities of a subsidiary during consolidation. We cover key principles under IFRS 3 and IFRS 10, helping you understand the treatment of fair value adjustments during business combinations. Whether you're preparing for CA, ACCA, or CMA exams or working in the field, this guide simplifies the process with practical examples. Learn how to recognize and adjust assets and liabilities accurately to reflect their true fair value in consolidated financial statements. Ideal for students and professionals alike!