Consolidate financial statement
This query is : Resolved
07 October 2023
My company, XYZ Limited, holds 20.72% of the shares of ABC Ltd.
ABC Ltd. is now considered my associate.
I do not have any subsidiary companies.
Please advise whether I need to prepare a consolidated balance sheet in accordance with Section 129 of the Companies Act 2013 and Rule 6 of the Companies Rules.
Note that Ind AS (Indian Accounting Standards) is not applicable to my company.
ABC Ltd. is now considered my associate.
I do not have any subsidiary companies.
Please advise whether I need to prepare a consolidated balance sheet in accordance with Section 129 of the Companies Act 2013 and Rule 6 of the Companies Rules.
Note that Ind AS (Indian Accounting Standards) is not applicable to my company.
08 October 2023
You need to consolidate your associate as your share holding exceeds 20%.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- RELATED TO TRIBUNAL APPEAL
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- LIC maturity claim whether taxable
- Sec 44ada applicable only or both
- Compulsory aqisation of Agriculture & Non Agriculture land are taxable or not ?
- TDS AND ITR ISSUE
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
