Consolidation of accounts

Dear Babish

Clause 32 of SEBI order to the listed co. to prepare

1)Consolidated Financial Staement

2) Cash flow statement

it means the consolidation of Accounts is mandatory for the Listed Co.

As you have asked about partnership firm ,SEBI's Clause 32 doesnt apply on partnership firm i.e there is no need to consolidate the balancesheet of Partenership firm with its subsidiaries

The investment reflected in the financial statement of P'ship will be shown on Cost or Fair value which ever is lower (if such investmentis a current investment), & if such investment is held as long term investment ,then such investment is shown on Cost only & the reduction in long term investment will only be done when there is permamnet fall in the price of investment. (as per AS 13 )