Hey Frnds!!!
Can anyone solve the following problem relatin to Consolidated financial Statements
A Ltd. is holding 60% of share capital of BLtd. B Ltd is holding 60% of share capital in Altd.
In whose books will the consolidation would be done?
Pl reply as soon as u get an answer along with any reference.
Its urgent!!!
Consolidation is never done in anyones books... its not a method or procedure of accounting... it just shows a snapshot of the group's performance... so IMO the question does nt hold much water...
Moreover, I also doubt if subsidiary can hold more than 50% shares in holding co... forgot the exact provision... but distincty remember to have studied such a rule in cos act
CAclubindia
