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When a subsidiary is held for a whole year and becomes an associate at the yr end,we consolidate it for the yr right?bcz it was in control for the whole yr and control was only lost at the yr end?
Thanks
Agreed – we consolidate the Statements of Income for the period during which control existed. But for Statement of Financial Position, because we have sold the subsidiary, the assets / liabilities of that subsidiary will NOT be included within the consolidated assets and liabilities
You told me that it was sold! If it’s sold, it’s sold! Nothing to do with that subsidiary is now on the Statement of Financial Position (unless we have retained an interest in it by way of investment in associate.
But I stick with what I wrote higher up, NOTHING relating to that SUBSIDIARY will feature on the Statement of Financial Position
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