As-18

aS PER AS -21 and clause 32 of SEBI - The holding companies require to show controled balance shhet as on the date of reporting, while we consolidating the balanncesheet all inter copmany transaction are being cancelled and only net assets held and controlled are shown hence no separate disclosure is required, except as required in stand alone FS.

Thanx saroj mam for rplying....now can i conclude that no disclosure is reqd inCFS of intra group transactions( whether may be of sale of goods or transfer of asset ) as per disclosure requirement of AS18 (para7) although the above transaction is a related party trsnsaction??? Pls answer keeping in view reqmt in CFS and not standalone FS

Yes AS -18 applies to consolidated financial statments except for intra group transactions.

In other words, related party transactions within the group are excluded for disculousre by AS 18 since transtions are eliminated in consolidation.

It is unnecessary at consolidated level because it CFS presents holding & subsidiary as single reporting entity.

First of all Is i m looks like MAM ? No dear in CFS there is also requirements of dislcosure of Related parties and other requirements bcs mare elimination of subsidiary copmany transaction does reveal parent company from diclosure of related partiesm which may be other then subsidiary com. pls see what are the responsibility of parent copmany in respect of CFS Go to this link and find responsibility of parent company https://www.icai.org/resource_file/22015vol3pmcp10.pdf