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Editorial Board on Accounts and Audit
  • Consolidation

    by Gautam on Thursday, January 16, 2020 at 01:37 AM

    Dear Sir, Pls tell the difference between Direct & Indirect Method in Consolidation of Financial Statements (Consolidated Balance sheet) as per Accounting standard ?? 2) Also tell the difference in calculation in above case ?? Thanks..

    Replied byEditorial Board Saturday, January 18, 2020 at 02:39 PM

    Dear Gautam,

    Accounting Standard do not talk about any direct or indirect method of consolidation. However, it does talk about direct or indirect control. Control can be acquired by controlling the ownership, directly or indirectly through subsidiary(ies), of more than one-half of the voting power of an enterprise; or by controlling the composition of the board of directors in the case of a company or of the composition of the corresponding governing body in case of any other enterprise so as to obtain economic benefits from its activities.

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