Unrealised profit on stock

AS 2873 views 1 replies

156 Points Joined July 2013

Subsidiary company sold goods to Holding company before the date of acquisition of majority shares. Whether the Holding company share of Unrealised Profit included in the Unsold goods should be deducted from Pre-acquisition profits (or) should it be deducted from consolidated profit and loss account of Holding Company?

Replies (1)

Chartered Accountnat CS

1585 Points Joined February 2011

As per Praveen sharma sir - it should be adjusted in AOP after time adjustment

But as per module only holdings share in that profit to be reduced from CPL and Minority interest

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