Consolidated Financial Statements

Manisha (CA & CS) (161 Points)

09 February 2011  

Dear all

 

"Listed Companies must prepare Consolidated Financial Statements as per SEBI guidelines. For other Companies AS 21 is not mandatory. But standard itself says that when any company wants to prepare Consolidated Financial Statements, they must follow AS 21 ."

This is one post i found from the path Discussion > Accounts > Consolidated Financial Statements Contents from this site.

 

But can anyone tell me where is it stated that a private company which is holding company of other company is not mandatorily required to prepare the Consolidated Financial Statements.

 

Thanks in advance.

Regards,

Manisha