12

Consolidated Financial Statements

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’.
12.1 INTRODUCTION

A company having one or more subsidiaries is required to prepare a consolidated financial statement as per the provisions of the companies act 2013. ...

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