Consolidation

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2010 Whether a partnership firm in which a company holds more than 50% share can be treated as subsidiary for consolidation?

29 November 2010 No. Only applicable to companies.

29 November 2010 Yes, any entity in which a company holds substantial control(> 50%)shall be consolidated, further AS 21 uses the term 'enterprise' not company so Partnership firm will be treated as subsidiary for consolidation.

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2010 Thanx...


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