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Consolidated Income Statement

This topic has 2 replies, 3 voices, and was last updated 11 years ago by wannabeacct.

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November 3, 2013 at 2:49 pm #144443
deepmaharaj
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- Topics: 58
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Dear Sir / Madam,
This may sound naive but kindly clarify whether we consolidate Income Statement only for Subsidiaries or even for Associates , Joint Ventures and Trade Investments.
Deep
November 3, 2013 at 4:29 pm #144451
icedawn
Member
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i think only for subsidiaries….. but it may happen that during the year the parent have disposed of some of the % holding which may result from sub to associate or sub to investment, Then you need to consolidate only till the date of disposal!!!
November 3, 2013 at 4:30 pm #144453
wannabeacct
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Consolidation is based on control>
We control subsidiaries therefore consolidate these.
Associates and trade investment we don’t control so we don’t consolidate.
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