Hi,
I'm having a business scenario, where the head office of company is located in US, one of their subsidiary is operating in India, now as per HO FY, it starts from Jan1 to Dec 31, in order to submit financial reports by HO, they need to pass depreciation entries in subsidiaries (i.e.,in India) by end of Dec 31. Since, indian accounting standard does not allow to calculate the depreciation based on US FY, how do we make entry in Indian office, books of accounts. Please help me out with your expertize.
Sajmon Rajamani
CAclubindia
