A company holds 75 percent share of partnership firm. Is consolidation applicable in this case?
If consolidation is done and the same has to be attested under which category shall the same be done?
DHANYA.G (Practicing Chartered Accountant) (40 Points)
07 February 2024A company holds 75 percent share of partnership firm. Is consolidation applicable in this case?
If consolidation is done and the same has to be attested under which category shall the same be done?
sabyasachi mukherjee
(27129 Points)
Replied 07 February 2024
Yasaswi Gomes new
(Finance )
(4492 Points)
Replied 07 February 2024
No consolidation required as per AS due to cost constraints
Yasaswi Gomes new
(Finance )
(4492 Points)
Replied 18 February 2024
Cost constraint refers to the constraint that the information to be reported when the benefits to be derived is greater than the cost incurred for reporting the particular information. If the reporting is too expensive then the information is not included in financial records.
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