03 October 2008
What is the main difference amongst the above mentioned AS? As AS -21 talks about consolidation of parent and subsidiary. AS- 23 -deals with Investments in associate AS - 27 reporting of financial interest in joint ventures.
how to find out whether an entity is a joint venture or associate. a venturer can have any % of holding in joint venture. associate means holding of 51% or more and /or control thru Board of directores, suppose in a entity parent co. is having 50% holding as well as members in board of directors of new entity, investment in such new entity how to be treated i.e. as per AS- 27 or AS- 23. Please reply this querry.