accounting standards interpretation
This query is : Resolved
17 July 2009
whats the meaning of Pt. 7 & 8 in AS-18
Guest
Guest
(Expert)
18 July 2009
I think, you r asking about following points :-
7. No disclosure is required in consolidated financial statements in respect of intra-group transactions. - Means, If you have relation like Branch and head office thn in that case you don't need to be diclosure.
8. Disclosure of transactions between members of a group is unnecessary in consolidated financial statements because consolidated financial statements present information about the holding and its subsidiaries as a single reporting enterprise.- Means - If co has holding & Subsd relation thn no need to be show separately members account.
7. No disclosure is required in consolidated financial statements in respect of intra-group transactions. - Means, If you have relation like Branch and head office thn in that case you don't need to be diclosure.
8. Disclosure of transactions between members of a group is unnecessary in consolidated financial statements because consolidated financial statements present information about the holding and its subsidiaries as a single reporting enterprise.- Means - If co has holding & Subsd relation thn no need to be show separately members account.
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