Accounts consolidation

This query is : Resolved

rakesh sharma (Querist)
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27 December 2007 A Subsidary co of ours is registered outside india.The Accounts Are compiled in Foreign currency say USD.

We have have a holding company registered in india preparing accounts in indian currency.

Want consilidate the B/s & profit & loss account of both companies & show the conslidated figures in indian rupees.

How to consolidate.

Rakesh sharma

rakesh sharma

rakesh sharma (Querist)
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27 December 2007 123

CA. Vineet Grover

CA. Vineet Grover (Expert)
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27 December 2007 Hi Rakesh,

Consolidation is very simple. There are three fundamentals:

(1) Ascertainment of share of holding.
(2) Computation of Minority Interest.
(3) Computation of Consolidated P & L A/c

Kindly refer AS-21 for compliances.

Rgds/
Vineet

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CA. Vineet Grover

CA. Vineet Grover (Expert)
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