Student
63 Points
Posted on 07 April 2014
Can any one help me to clarify the following 2 doubts regarding AS 21
(1) what is the treatment of revaluation reserve existing in the balance sheet of subsidiary co while preparing consolidated B/S?
(2) accounting year:1/4/2012 to 31/3/2013
on 1/5/2012 H Ltd acquired 30% shares of S Ltd.on the same date S Ltd revalued their building upward by Rs.50000.but this adjustment not yet been recorded.on 1/6/2012 H Ltd acqured another 21% shares of S Ltd.on this date H Ltd & S Ltd are holding and subsidairy companies.on the same date S Ltd revalued their Plant upward by Rs.30000.this adjustment is not yet been record
ed
What is the treatment for the above two revaluations while preparing consolidated B/S?there is any change in the treatment if the 1st revaluation is recorded and revaluation reserve is shown in the B/S of S Ltd?
CAclubindia
