Consolidation of P&L of a dispose off (during the F.Y.) subsidiary

This query is : Resolved 

06 September 2007 hi...
while consolidating the P&L of one out of many subsidiaries,i am in problem how to calculate gain/loss on disposal of investment in subsidaries as per AS-21.
This subsidiary has brought forward loss from previous years and aslo have loss for current F.Y. upto the cncerned period. if there would be a practical example or working procedure for calculating gain/loss on diposal of investment, pls help its urgent since last date for submition of result is coming to near...

Thanks

10 September 2007 ONE WAY IN WHICH WE SOLVED THE PROBLEM IN A PARTICULAR YEAR WAS BY STATING THAT SINCE THE SUBSIDIARY WAS NOT OPERATING OR DEFUNCT,IT WAS OFFERED FOR SALE AND ALSO WE R LOOKING AT OTHER AREAS/AVENUES OF DISPOSAL/ DISINVESTING IN THE UNIT. HENCE AS THE CONTROLOF THE SUBSIDIARY IS INTENDED TO BE TEMPORARY, NO NEED TO COMPLY AS 21 .THE AUDITOR ALSO STATED SAME AND WE R THROUGH.
NEXT YEAR YOU MAY SAY YOUR EFFORTS TO DISPOASE OR DISINVEST ARE NOT SUCCESSFUL AND HENCE YOU MAY PLAN NEXT YEAR ACCOUNTING /ACTION AS TO WHAT SUITS YOU MOST.
THE FACTS OF THE ABOVE CASE WERE STATED AS DEADLINE IS APPROACHING IN YOUR CASE.OTHERWISE YOUR STATUTORY OR INTERNAL AUDITORS FROM THEIR EXPOSURE CAN SUITABLY ADVISE YOU AS STATUTORY AUDITOR NEEDS COMPLY AS-21 AND TO SUITABLY REPORT TO SHAREHOLDERS.
BUT APPLICABILITY OR SUITABILITY OF THIS SUGGESTION TO YOUR CASE IS UPTO YOU TO DECIDE.WHAT I GAVE IS AN ACTUAL EXPERIENCE.
C.A R.V.RAO



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