Debentures issued by subsidiary to outsiders i.e., other than parent or holding company should be disclosed under the head "minority interest" or "non-current liabilities" Please clarify..
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Debentures issued by Subsidiary to outsiders
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Eg. Subsidiary issued 15,000₹ debentures and parents hold 10,000₹ of it and the rest is held by outsiders. Then:
Parent 10000
Subsidiary 15,000
Consolidated adjustment= 15000-10000= 5000₹ is taken to SOFP Under group debentures and loans in liabilities. If the parent does not hold anything, then the total of 15,000₹ will be shown under group debenture liabilities. Similarly, when it comes to consolidated equity, only parents will be shown in the consolidated SOCIE.
Can you please tell what is SOFP... ?
And also what is SOCIE
Statement of financial position
statement of changes in equity
So all Equity elements are shown in balance sheet.
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