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In this video tutorial, Silvia, the founder of IFRS box, explains the basics of consolidation for accounting students. Consolidation is a fundamental concept in accounting, essential for exams and career advancement. Silvia provides a clear demonstration of basic consolidation procedures to help viewers understand and excel in this area. A case study of Mummy Corporation owning 80% shares of Baby Limited is used to illustrate the concept. For more in-depth learning, viewers are encouraged to visit IFRS box.com for courses, quizzes, and examples.