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If at the year end e.g 30 nov 2010 any subsidary turned into associate .
so in the consolidated financial position we will only account for it as investment .no consolidation of assets and liabilty .AM i right?
Loss Of control at end of the year and calculate the P/Loss for the disposal charged to pl.No console for the year end console pl up to date of disposal.
ranga is correct, consolidate the Statement of Income up to the date of loss of control and then equity account for the associate for the post-disposal period up to the date of the accounting year end.
And no assets nor liabilities on the consolidated Statement of Financial Position
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