Consolidation of financial statements

How to Account for Investment in Associates in Consolidated Financial Statements in Case the Associate Company have a Subsidiary Companys Whether Consolidated Financials of Associate is to be Considered (or) Standalone Financials of Associate is to be Considered for Accounting of Investment in Associate in CFS. for Ex : H Ltd(Holding Company) has 49% Holding in A Ltd (Associate) & ALtd has 51% holding in S Ltd (Subsidary of Associate) .Then whether H Ltd has to Consider Consolidated Financials of Altd (or) Standalone Financials of A Ltd to Account for Investment in Associates in H Ltd Books

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