Consolidation
This query is : Open
22 August 2011
Hi!
I want to know that it is mandatory for a limited company )not a listed company) to prepare consolidated accounts. If yes kindly give me reference of that section.
Thanks in advance
I want to know that it is mandatory for a limited company )not a listed company) to prepare consolidated accounts. If yes kindly give me reference of that section.
Thanks in advance
CMA Ramesh Krishnan
(Expert)
22 August 2011
Yes.As per Accounting standard 21 Consolidation will apply for both Listed and non listed and Private companies. please refer AS-21
24 August 2011
Hi!
But as per AS-21, if the company is required to consolidate their accounts as per the requirements of any other statute then the company should consolidate their accounts according to AS-21.
I want to know that whether it is mentioned in any other statute that it mandatory for a private company to consolidate its accounts.
But as per AS-21, if the company is required to consolidate their accounts as per the requirements of any other statute then the company should consolidate their accounts according to AS-21.
I want to know that whether it is mentioned in any other statute that it mandatory for a private company to consolidate its accounts.
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