A private limited company has a wholly owned Foreign subsidary.It does not have any other associate or subsidary or Joint venture.Please confirm the applicability of preparation of Consolidated Financial Statements for Year ended 31st March 2016.
Thanks in advance
yes Private company having fully owned foreign subsidary company then Pvt company require to prepare CFS.
Applicability of CFS
1. PVT Ltd Company
2. Publicunlisted company
3. Listed Company
As per notification date 27.06.2016 exemption regarding consolidation of accounts of subsidiary or associate copmany. My question is whether now if company has only one subsidiary or associate company, in that case it is mandatory that company prepare consolidated financial statement or not.
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