Prepare of finical reports single or consolidated


This query is : Resolved 

Quick Summary
When preparing financial statements for a business with multiple single proprietorships, you should prepare them separately for each entity. However, when it comes time to file your Income Tax Return (ITR), these individual statements will need to be consolidated into a single report.

25 April 2024 Sir,
It assessess maintained three business single proprietor
Question:
Assessess preparation finical statements balance sheet and profit and loss each one seperately or consolidated.

25 April 2024 consolidated....

26 May 2024 Prepare statements separately, but while filing ITR you need to consolidate them.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details