Consolidated acccounts-group accounts, Financial Accounting

Consolidated acccounts

1AS 27 therefore requires that the holding a company should include the financial results of the subsidiary company in its own financial statements. The process involves adding the assets, liabilities and incomes and expenses of the subsidiary company to those of the holding company while excluding inter-company transactions and balances. This process is called consolidation and the combined financial statements are called Group accounts or consolidated accounts.

1AS 27/IAS 1 requires the holding company to present the following in its published financial statements.

  • A consolidated income statements
  • A consolidated statement of changes in equity
  • A consolidated balance sheet
  • A consolidated   cash flow accounts
  • Group notes to the accounts.

 

1AS 27 also requires the holding company to present its own financial statements separately ie excluding the subsidiary company.

Posted Date: 12/12/2012 2:23:28 AM | Location : United States







Related Discussions:- Consolidated acccounts-group accounts, Assignment Help, Ask Question on Consolidated acccounts-group accounts, Get Answer, Expert's Help, Consolidated acccounts-group accounts Discussions

Write discussion on Consolidated acccounts-group accounts
Your posts are moderated
Related Questions
Q. Cost related issue of debt? Debt is cheaper in comparison of equity because debt is less risky from an investor point of view. This is for the reason that it is often secure

what is the implication of applying accounting concepts wrongly

In no more than one typed page, provide a statement of your decision to invest or not invest in this company's stock based on your interpretation of the company's long-term prospec

This is a comprehensive assessment of the material related to our first two class meetings.  You are NOT being tested on material related to capital budgeting (NPV, IRR, etc.). Tha

1. Consider the following balance sheet: Best Care HMO                  Balance Sheet               June 30, 2007 Assets  / Current Assets*

5.    A stockholder named Sue must cast a vote for chair of the board. Sue prefers Mr. Lee to Ms. Doe, Ms. Doe to Mr. James, and Mr. James to Mr. Lee. a. Are Sue's preferences c

Presented below are condensed financial statements adapted from those of two actual companies competing as the primary players in a specialty area of the food manufacturing and dis

Q. What is Recapitalization? Recapitalization - An internal reorganization of a corporation including a rearrangement of capital structure by changing the kind of stock or numb


Complete the table and use the information to determine profit maximization or loss minimization. 1. Complete the table Normal 0 false false false EN-I