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?
Menu
Accounting in case of consolidated financial statement
Replies (1)
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.
Recent Topics :
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
Related Topics :
CAclubindia
