A company engaged in hotel industry had a share in a partnership firm for 99% till financial year 2011-12. But during the financial year 2012-13, the above firm was merged with the company.
Now the query is that, in the fiancial statements for 2012-13 previous year figures i.e. for 2011-12 will be shown as reported in previous year's financial statements (only company's data is present and profit share was added in other incomes) or will be merged with the balance sheet of firm (as same as done for current year 2012-13). .
CAclubindia
