Sir as per companies act if it’s a subsidiary and as per AS such co. doesn’t become it’s subsidiary then in such case cos. act would prevail over AS and hence consolidation should be done as AS only tells how consolidation is to be done??
Questions › Category: CA-Final Consolidated Financial Statements › Sir as per companies act if it’s a subsidiary and as per AS such co. doesn’t become it’s subsidiary then in such case cos. act would prevail over AS and hence consolidation should be done as AS only tells how consolidation is to be done??
in such situations consolidation wont happen. for consolidation to happen it should be subsidiary as per company act & AS
list of subsidiaries not consolidated will be given in notes to accounts along with reasons.
bharat gahlot
Ravi