Consolidated financial statements
This query is : Resolved
20 November 2015
Dear Experts,
Is a limited Liability Partnership treated as a Subsidiary for the purpose of preparing Consolidated Financial Statement Under Section 129(3) of Companies Act 2013?
Is a limited Liability Partnership treated as a Subsidiary for the purpose of preparing Consolidated Financial Statement Under Section 129(3) of Companies Act 2013?
23 November 2015
Yes it needs to be consolidated as a subsidiary if control exists as per AS 21. It can be noted here that the definition of control as per AS 21 refers to both companies and other enterprises.
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