consolidation as per AS_21

This query is : Resolved 

27 December 2007 Thanx Vineet,

AS-21 is not clear on the following:

when Accounts of the subsidary are in $USD & Holding are in rupees. How to convert the accounts of subsidiary from US $ to Rupees so that
the account of both co are consolidated in common currency.

Say Subsidiary is in Dollars& holding is in Rupees.

Regards


27 December 2007 123

27 December 2007 Hi Rakesh,

In that case you need to convert the figures of the subsidiary from $ to rupees as holding compnay is the reporting currency. You have to apply AS-11 for conversion of values. Further there are seperate conversion rates on varies nature of assets/liabilities/income and expenditures. Kindly keep that in note.

Rgds/
Vineet




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