accounting standards as-21

This query is : Resolved

kyathi dalavayi (Querist)
Follow

27 November 2009 there exits holding subsidiary relationship at openning of the financial year. During the year holding company sold some shares and became an associate. The question whether Consolidated balance sheet is prepared as a subsidiary or as an associate?

CA. Amit Daga

CA. Amit Daga (Expert)
Follow

28 November 2009 Dear Kyathi

At the time of preparing Consolidated balance sheet or any balance sheet. We always need to remember balance sheet is always prepared as on date.

In your case if at balance sheet company is not holding and subsidary relationship you are not required to prepare a consolidated balance sheet