Minority interest

good question..give me some time

it is shown as a separate item after shareholders fund

as a component of equity......

minority interest is not a part of equity

why not? actually MI are outside holders, but they are equity holders.. they are component of equity & disclosure in rev. sch 6 also in line.

it is a separate item shown after shareholders fund

they are holders of equity shares but of subsidiary company

pls read for more info...

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The Schedule VI of the Cmpanies Act deals only with the Standalone Financial Statement of the Co. Therefore Schedule Vi does not provide any place for showing Minority Interest. As per AS 21 MI should be shown as a seperate item in the Balance Sheet. 

Originally posted by : CA Manish Malu
	The Schedule VI of the Cmpanies Act deals only with the Standalone Financial Statement of the Co. Therefore Schedule Vi does not provide any place for showing Minority Interest. As per AS 21 MI should be shown as a seperate item in the Balance Sheet.

Rev. sch VI is sailent to its applicability to CFS, but as per as  21 WHICH REQUIRES CFS to be prepared in the format which adopted in its parent standalone 

so conclusion is that Rev sch VI also applicable to VI CFS.

as per revised schedule VI, AS overrides provisions in Schedule VI..hence minority interest should be shown as separte line item only

Originally posted by : pooja
	as per revised schedule VI, AS overrides provisions in Schedule VI..hence minority interest should be shown as separte line item only

& also As per AS 21, WHICH REQUIRES CFS to be prepared in the format which adopted in its parent standalone 

so its s big conflict , we have to look actual balance sheet of listed companies  , it will remove all confusion ... 
 

Hiiii Manoj....

Minority Interest will be shown under Shareholder Fund as per revised schedule iv