The Investment in an associate company was reported at NIL in the Consolidated Financial Statements due to losses and in the standalone balance sheet the same was reported at the book value. In the current year the company ceased to be an associate. The investment was redeemed at book value. So in the stand alone balance sheet the investment was reduced resulting in no profit no loss. Now how should the same be treated in the Consolidated statement?
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Accounting in case of consolidated financial statement
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when investments in associated company sold out no need to comply AS 23. because of as on reporting date our comany is not associated with.
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