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Consolidation of Accounts


Sudhir Kumar Banthiya (Trainee)     02 November 2010

Sudhir Kumar Banthiya
Trainee 
 38 points

| My Other Post

Will the accounts of a Partnership firm in which a company is a partner, be consolidated with the accounts of the such company?

avater

sudhakar ca cwa (service)     02 November 2010

sudhakar ca cwa
service 
 156 likes  1503 points

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in my opinion it needs to shown as Investments as per AS-13

avater

CA Lokesh Pokharna (CA (Ahmedabad Bhilwara Chittorgarh))     02 November 2010

CA Lokesh Pokharna
CA (Ahmedabad Bhilwara Chittorgarh) 
 355 likes  4123 points

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IF SUCH COMPANY HOLDING 50% OR MORE VOTING POWER/CONTROLLING POWER IN FIRM THEN IT SHOULD BE CONSOLIDATE WITH COMPANIES ACCOUNTS

avater

sivasubramanian (articled assistant)     03 November 2010

sivasubramanian
articled assistant 
 79 points

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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. 


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