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Doubt in consolidated financial ststements

This query is : Resolved 
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Guest

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Guest (Querist)
08 February 2013 please help me...

i have doubt in intra group transactions between holding and subsidiary:

relating to stock......downstream and upstream transactions....

i studied that 100% of unrealised profit on downstream transaction should be deducted from holding company's share of profit WHILE unrealised profit on upstream transaction should be reduced from the share of holding as well as MINORITY INTEREST on pro rata basis

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NOW THE DOUBT IS ....WHETHER THE AFORESAID TREATMENT IS CORRECT OR NOT....IF NOT TELL ME THE CORRECT TREATMENT

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SOLUTION PROVIDED ICAI IN PRACTICE MANUAL DO NOT DISTINGUISH UP / DOWN STREAM .....IT JUST DIRECTLY DEDUCTS 100% OF UNREALISED PROFITS FROM HOLDING COMPANY'S PROFIT EVEN IN CASE OF UPSTREAM ! ! !



PLEASE KNOWLEDGEABLE PERSONS HELP
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
13 February 2013 irrepective of downstreaming or upstreaming, intercompany profist are to be eliminated in full.
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