Accounting Standard- 21,23 & 27
This query is : Resolved
03 October 2008
What is the main difference amongst the above mentioned AS?
As AS -21 talks about consolidation of parent and subsidiary.
AS- 23 -deals with Investments in associate
AS - 27 reporting of financial interest in joint ventures.
how to find out whether an entity is a joint venture or associate.
a venturer can have any % of holding in joint venture.
associate means holding of 51% or more and /or control thru Board of directores,
suppose in a entity parent co. is having 50% holding as well as members in board of directors of new entity, investment in such new entity how to be treated i.e. as per AS- 27 or AS- 23.
Please reply this querry.
Thanks & regards,
As AS -21 talks about consolidation of parent and subsidiary.
AS- 23 -deals with Investments in associate
AS - 27 reporting of financial interest in joint ventures.
how to find out whether an entity is a joint venture or associate.
a venturer can have any % of holding in joint venture.
associate means holding of 51% or more and /or control thru Board of directores,
suppose in a entity parent co. is having 50% holding as well as members in board of directors of new entity, investment in such new entity how to be treated i.e. as per AS- 27 or AS- 23.
Please reply this querry.
Thanks & regards,
03 October 2008
The difference is clear from the objective.
The definitions are there in the standards
The definitions are there in the standards
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