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Consolidation

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(Querist)
08 September 2009 A Ltd, B Ltd and C Ltd are companies registered under companies act, 1956.

A is holding company of B and B is holding company of C as at 31.3.09.

on 30.6.09, B ltd sold C ltd to A Ltd.

How will the Company present the same transaction while preparing Consolidated financial statements (CFS) of BLtd as at 30.6.2009.

Should it consider the results of C ltd upto 30.6.09 in its CFS?

What is the logic of computing Profit/(loss) on sale of subsidary in CFS ( AS per AS - 21).
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ARUN KUMAR V

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ARUN KUMAR V (Expert)
10 September 2009 Since transaction of sale of susdiary occured after 31.3.09 no adjustment is required regarding disposal of subsidiary. CFS is prepared on 31.3.09 as usual.
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rohit

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rohit (Querist)
10 September 2009 How will the company present the same transaction while preparing CFS of B Ltd at 30.6.09
What is the logic of computing Profit/(loss) on sale of subsidary in CFS ( AS per AS - 21).
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