As21 consolidation of financial statements format

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Heta (Querist)
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22 July 2014 Can anybody please share the format (blank) for preparation of consolidated financial statements as per AS21

Heta

Heta (Querist)
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22 July 2014 Can anybody please share the format (blank) for preparation of consolidated financial statements as per AS21

Aashok Kumar Sharma online

Aashok Kumar Sharma online

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14 July 2024 Certainly! Here's a simplified format for preparing consolidated financial statements as per AS 21 (Consolidated Financial Statements):

### Format for Consolidated Financial Statements

#### 1. Consolidated Balance Sheet

| **Assets** | Parent Co. | Subsidiary Co. | Eliminations | Consolidated |
|----------------------------------------|------------|----------------|--------------|--------------|
| Current Assets | | | | |
| Non-Current Assets | | | | |
| Investments in Subsidiaries | | | | |
| Goodwill and Other Intangible Assets | | | | |
| Total Assets | | | | |

| **Liabilities and Equity** | Parent Co. | Subsidiary Co. | Eliminations | Consolidated |
|----------------------------------------|------------|----------------|--------------|--------------|
| Current Liabilities | | | | |
| Non-Current Liabilities | | | | |
| Equity | | | | |
| Minority Interest | | | | |
| Total Liabilities and Equity | | | | |

#### 2. Consolidated Statement of Profit and Loss

| **Revenue** | Parent Co. | Subsidiary Co. | Eliminations | Consolidated |
|----------------------------------------|------------|----------------|--------------|--------------|
| Sales Revenue | | | | |
| Other Operating Income | | | | |
| Total Revenue | | | | |

| **Expenses** | Parent Co. | Subsidiary Co. | Eliminations | Consolidated |
|----------------------------------------|------------|----------------|--------------|--------------|
| Cost of Goods Sold | | | | |
| Operating Expenses | | | | |
| Depreciation and Amortization | | | | |
| Finance Costs | | | | |
| Other Expenses | | | | |
| Total Expenses | | | | |

| **Profit Before Tax** | | | | |

| **Tax Expense** | | | | |

| **Profit After Tax** | | | | |

#### 3. Notes to the Consolidated Financial Statements

- Provide detailed explanations and breakdowns of significant accounting policies, adjustments made for intra-group transactions, minority interests, and any other relevant information required for transparency and compliance with accounting standards.

### Important Considerations

- **Eliminations:** Include a column or section in the format to show eliminations of intra-group transactions, such as sales between parent and subsidiary companies, to avoid double-counting revenues and expenses.

- **Minority Interests:** Clearly indicate the portion of net assets and profits attributable to minority shareholders in subsidiaries.

- **Goodwill and Intangible Assets:** Include disclosures regarding the recognition and measurement of goodwill and other intangible assets acquired in business combinations.

### Conclusion

Using this format, you can prepare consolidated financial statements in accordance with AS 21, ensuring that all relevant information is properly presented and disclosed for stakeholders' understanding and decision-making purposes. Always ensure to consult with accounting professionals or refer to the latest accounting standards and guidelines for any updates or specific requirements.

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