Will the accounts of a Partnership firm in which a company is a partner, be consolidated with the accounts of the such company?
Will the accounts of a Partnership firm in which a company is a partner, be consolidated with the accounts of the such company?
in my opinion it needs to shown as Investments as per AS-13
IF SUCH COMPANY HOLDING 50% OR MORE VOTING POWER/CONTROLLING POWER IN FIRM THEN IT SHOULD BE CONSOLIDATE WITH COMPANIES ACCOUNTS
Yes. But before that control should be determined on the basis of the partnership deed and further evaluation of whether it is an associate or a joint venture.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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