26 February 2019
One Private Limited company had done investment in another private limited company (holds more than 20% of shares) so these are associate companies. Does consolidated balance sheet is required...?
26 February 2019
(a) the ownership, directly or indirectly through subsidiary(ies), of more than one-half of the voting power of an enterprise; or
(b) control of the composition of the board of directors in the case of a company or of the composition of the corresponding governing body in case of any other enterprise so as to obtain economic benefits from its activities.
A subsidiary is an enterprise that is controlled by another enterprise (known as the parent).
A parent is an enterprise that has one or more subsidiaries.
A group is a parent and all its subsidiaries. Consolidated financial statements are the financial statements of a group presented as those of a single enterprise.
26 February 2019
Dear Sir,
As per section 129 of companies act, 2013 subsidiary includes associate companies.
(Companies Amendment Act, 2017 Effective from 07 May 2018)
I want to know whether consolidation is required while making Balance Sheet of F.Y. 2017-18....?
CAclubindia
