A Person X holds 90% of shares in a company X and is also a partner in a Firm Y and LLP Z. Should any of the entity prepare CFS as per AS and IND AS?
Menu
Consolidated financial statements
Replies (2)
Since none of these companies/entities can be called as subsidiary/JV/Associate, there should be no requirement to prepare CFS.
Regards,
Rajeev Bhargav
rajeev @ rbhargav.com
C F/s is only prepared for companies which has holding shares with it's subsidiaries...
as in the case u given...it is not necessary to prepare F/s of partnership and llp...
But as per AS-18 Related Party Disclosure...such Person Mr.X and the Company X are related and their firm Y and llp Z are also related.
as in the case u given...it is not necessary to prepare F/s of partnership and llp...
But as per AS-18 Related Party Disclosure...such Person Mr.X and the Company X are related and their firm Y and llp Z are also related.
Recent Topics :
- TDS on payment to a non resident
- NSFA(National Food Security Act) commission
- RCM applicability on petty GTA freight (₹450
- Short payment reccieved in export & GST implic
- Parag Gupta vs Purushottam Aggarwal- who is best f
- GST applicability on own-vehicle goods transportat
- FAST DS Scheme 26
- 12A registration expired in FY 22-23 and is not re
- Seeking Clarification on Business Code Selection a
- CG on property sold after construction of a house
Related Topics :
ARTICLESHIP
01 September 2026
Articles
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
ARTICLESHIP
16 September 2026
Article Assistant
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
ARTICLESHIP
30 September 2026
CA Article Assistant
CA Suraj Garg & Associates
New Delhi
CA Final
View Details
CCI
Pro
CAclubindia
