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MikeLittle.
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seista
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Where one group co owes money to another group co or one co holds loan stock of another co , the asset and liability balances will be eliminated on consolidation. As far as the group is concerned , they do not represent amounts due to or from third parties. Sir this answer is from bpp. I do not understand the last line ( they do not represent amounts due to or from third parties )
MikeLittle
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If a subsidiary owes money to a parent, and therefore the parent is owed money by the subsidiary …
… how is any third party involved?
It’s purely an internal domestic arrangement
If your father owes money to your mother, how does that involve any stranger in the next village?
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