consolidation as per AS_21
This query is : Resolved
rakesh sharma
(Querist)
27 December 2007
Thanx Vineet,
AS-21 is not clear on the following:
when Accounts of the subsidary are in $USD & Holding are in rupees. How to convert the accounts of subsidiary from US $ to Rupees so that
the account of both co are consolidated in common currency.
Say Subsidiary is in Dollars& holding is in Rupees.
Regards
AS-21 is not clear on the following:
when Accounts of the subsidary are in $USD & Holding are in rupees. How to convert the accounts of subsidiary from US $ to Rupees so that
the account of both co are consolidated in common currency.
Say Subsidiary is in Dollars& holding is in Rupees.
Regards
rakesh sharma
(Querist)
27 December 2007
123
CA. Vineet Grover
(Expert)
27 December 2007
Hi Rakesh,
In that case you need to convert the figures of the subsidiary from $ to rupees as holding compnay is the reporting currency. You have to apply AS-11 for conversion of values. Further there are seperate conversion rates on varies nature of assets/liabilities/income and expenditures. Kindly keep that in note.
Rgds/
Vineet
In that case you need to convert the figures of the subsidiary from $ to rupees as holding compnay is the reporting currency. You have to apply AS-11 for conversion of values. Further there are seperate conversion rates on varies nature of assets/liabilities/income and expenditures. Kindly keep that in note.
Rgds/
Vineet
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