Consolidation
This query is : Resolved
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).
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).
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.
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).
What is the logic of computing Profit/(loss) on sale of subsidary in CFS ( AS per AS - 21).
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