BPP Black Friday sale!

40% discount on all BPP books specially for OpenTuition students!
Get it here >>

Consolidation

This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
May 7, 2018 at 4:14 pm #450477
annamalai27
Member
- Topics: 29
- Replies: 6
Are contingent liabilities disclosed in the notes/footnote of the subsidiary’s FS also included as a part of the parents FS while consolidation?
If yes, where is it disclosed as a part of the Parent companies FS, will it be in the form of notes or just a foot note ?
May 7, 2018 at 4:39 pm #450479
MikeLittle
Keymaster
- Topics: 27
- Replies: 23350
If a contingent liability in the subsidiary’s notes to the financial statements is material to the group as a whole, then a note would be made in the notes on the consolidated financial statements
But only if material to the group as a whole
OK?
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

The topic ‘Consolidation’ is closed to new replies.