Financial Accounting for Managers, 4th Edition

Consolidated Financial Statements

12

CHAPTER OBJECTIVES

This chapter will help the readers to:

• Appreciate the rationale behind preparation of consolidated financial statements.
• Understand the basic principles and procedures in preparation of consolidated financial statements.
• Understand the concept of ‘minority interest’ in consolidated financial statements.
• Prepare consolidated financial statements.
• Get familiarity with the accounting and disclosure requirements under Ind AS 110 ‘Consolidated Financial Statements’ and Ind AS 28 ‘Investments in Associates and Joint Ventures’.

12.1INTRODUCTION

A company having one or more subsidiaries ...