Why cant minority interest be negative?
Why cant we show it on the asset side?
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AS 21- Consolidation of Balance Sheets
Replies (2)
Para 26 of AS 21 states losses incurred by minority shall be adjusted against minority if losses exceed minority then should be adjusted against majority
Logic is that consolidate Financial statements are prepared by Holding company, if there is loss it means that holding company is not responsible to make it good for minority, then why it will be shown in CFS which includes investor own balance sheet plus its stake in subsidiary but not minority. But if it is 100% subsidiary then it is will be different situation. Hope made clear.
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