Consolidation of Balance Sheet
This query is : Resolved
15 February 2008
How to consolidate the Balance sheet? And what is eleminated entries?
If our one unit is in India & another one is in US. Then how do I consolidate the Balance sheet? There is differance in currancy. Means while the consolidation the cost of $ (Dollar) increases or decreases as compare to the date on which the assets are purchased.
Can anybody help me out.
If our one unit is in India & another one is in US. Then how do I consolidate the Balance sheet? There is differance in currancy. Means while the consolidation the cost of $ (Dollar) increases or decreases as compare to the date on which the assets are purchased.
Can anybody help me out.
15 February 2008
all the balance sheet items of the US unit should be converted at the closing rate of the balance sheet & all the profit & loss account items are to be converted at the average rate for the year.
All the items are to be added by line by line & the inter unit transfers / income / expenses are to be eliminated.
all the exchange fluctuations are to treated as foreign exchange fluctuation reserve account under the balance sheet - Reserves & Surplus.
This is how consolidation is all about.
Please read AS 21 for the details
All the items are to be added by line by line & the inter unit transfers / income / expenses are to be eliminated.
all the exchange fluctuations are to treated as foreign exchange fluctuation reserve account under the balance sheet - Reserves & Surplus.
This is how consolidation is all about.
Please read AS 21 for the details
15 February 2008
Could you please tell me what is AS 21?
Please
Please
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