Is it mandatory for all companies to prepare consolidated financial statements?
Who is required to prepare consolidated financial statement?
hireshire (n/a) (185 Points)
13 April 2011
2 Replies
Vikas Marele
(CA in Service)
(1144 Points)
Replied 13 April 2011
No, as par AS it is not mandatory. However, for listed company it is mandatory to prepare CFS as per Sebi guidelines.
Sagar
(Audit)
(24 Points)
Replied 14 April 2011
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Not Manadatory if the financial statement are prepared as per Accounting standards prescribed under Accounting Satandards Rules 2006. However if the entity is a listed entity it has to mandatorily prepare consolidated financial statement as per SEBI requirement. For Companies other than Listed, if any company wants to prepare consolidated financial statement then it has to mandatorily prepared as per AS21. Originally posted by : hireshire |
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Is it mandatory for all companies to prepare consolidated financial statements? |
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