Accounting treatment in consolidated financials

This query is : Resolved

CA Vandana Rathi (Querist)
Follow

20 December 2018 Scenerio:-
There are three companies A Ltd, B Ltd and C Ltd.
B Ltd is a wholly owned subsidiary of A Ltd, thereby in Consolidated Financials of A Ltd, B ltd is also included.
C Ltd is a third party.It is not being consolidated with A Ltd.
A ltd has its 95-98% of domestic sales to C ltd. While C ltd further sale its stock to B ltd, which it had purchased from A Ltd.
There is no control in C ltd by either company(A or B ltd).

Query:-
Whether in Consolidated Financials does it amounts to Sales return for A Ltd?

Kamal Kant Mittal

Kamal Kant Mittal (Expert)
Follow

03 January 2019 i think it should not be treated as sales return and stock with B should appear as it is in consolidated financials even.
Regards
CA Kamal Kant

CA Vandana Rathi

CA Vandana Rathi (Querist)
Follow

27 March 2019 Ok thanks for your considerable reply.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA. MOHIT SHARMA

balamurugan

madhu sudan

Deepak Nayak

Rubal Singhal

Subscribe Now

Accounting treatment in consolidated financials

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

Article Assistant

Manager- Finance and Compliance

GST CONSULTANCY

CA Final