Consolidation of financial statement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2015
The company has formed a SPV for the specific project. The listed company has purchased a 51% stake in this company, so that it became the subsidiary of the listed company. Listed company has performed a contract for the subsidiary company an recorded it as is income. And the subsidiary company has recorded it as its expenses, and the whole amount is capitalised in the books of subsidiary.
So that at the time of consolidation inter company transaction should be eliminated while compilation of Financial Statement. mgt content the inter co. transaction shold not be eliminated, while all cost has been capitalised. whether contention of the managment is right or wrong????
So that at the time of consolidation inter company transaction should be eliminated while compilation of Financial Statement. mgt content the inter co. transaction shold not be eliminated, while all cost has been capitalised. whether contention of the managment is right or wrong????
29 May 2015
As per as 21 holding co needs to eliminate the inter compnay transactions.
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2015
What about the applicability of IFRIC 12
29 May 2015
Till fy 14-15 only exisiting AS SHALLbe applicable and not IFRIC.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Specified Profession
- Last year TDS Claim
- TDS related Query_Liquidated Damages
- STCG FOR GOLD ETFs
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
