Consolidation of Accounts
This query is : Resolved
08 January 2011
My company has a partnership firm which is under my company's control. How should it be treated at the time of consolidation of accounts. A subsidiary under AS 21 or a Joint Venture under AS 27.
Also how depreciation shall be consolidated in this case. As deprn of my company is as per companies act and that of partnership firm is as per IT Act
Please elaborate....
Also how depreciation shall be consolidated in this case. As deprn of my company is as per companies act and that of partnership firm is as per IT Act
Please elaborate....
08 January 2011
The investment in partnership is not covered under AS 21 and AS 27.
11 January 2011
Okk...but in case of joint venture...how should I merge the depreciation...coz in jv its as per income tax act and in company its as per companies act
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