Dear Experts,
Please guide how to present negative Minority Interest in Consolidated Financial Statement as per AS 21. Subsidiary is having negative Net Assets.
Also if subsidiary is having negative net assets and loss in current year ,then in such case do we need to add back the minority interest loss in the consolidated Profit & Loss A/c.
Waiting for your replies.
Thanks in Advance
Thanks Ankit,
can you also guide if in current year subsidiary is having profit after eliminating intercompany transactions, then do we need to show minority profit in consolidated profit & loss eventhough there is accumulated losses pertaining to subsidiary of previous years.
Thanks in Advance
Goodwin Pumps India Pvt Ltd
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CA Inter
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Fytomax Nutrition Private Limited
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CA Inter
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M N Rao & Associates LLP
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CA Inter
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CCI
Pro
CAclubindia
