Consolidation of financial statements

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 March 2012 We are a EPC Company, we are a subsidiary of manufacturing company.
In the current year we executed the power plant and sold the same to our parent company.
The parent company has capitalized the same and it claims depreciation on it.
What will be the effect of the above transaction while consolidation of the financials of Holding company?

Guest

Guest (Expert)

01 March 2012 In this case any inter company profit booked should be eliminated at tym of consolidation.

Guest

Guest (Expert)

01 March 2012 In this case any inter company profit booked should be eliminated at tym of consolidation.

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