Consolidation of accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2014
Dear Learned Members, One of our registered office is located in Hong Kong and its subsidiary is in Indonesia (Honkong being investing company in Indonesia company) now while closing the books of accounts they want us to consolidate the financials and present for the subsidary and Corporate office. Since these two are under different currencies please guide how to consolidate and take it in one currency. Thanks
Nikhil Kaushik
(Expert)
22 January 2014
dear friend,
you need to consolidate as per accounting norms for foreign currency translations as per the accounting rules of Honkong/Indonesia...
you need to consolidate as per accounting norms for foreign currency translations as per the accounting rules of Honkong/Indonesia...
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