Consolidation of Accounts.
This query is : Resolved
04 July 2008
In Consolidation, minority interet is shown in th P & L Account and also in the Balance Sheet. Is this A/c a regular ledger account ( Lizbility) so that in the next year, th profit /loss attributable to Minority interest is added to /deducted from the opening Balance?
04 July 2008
The accounts of holding and subsidiary co are separate. the accounts will not be affected in any way. only for preparing consolidation statements we make such changes. Consolidated Financial statements are separate statement. Nothing of which will be incorporated in the books of accounts of either co.
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