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(163)-SUMMARY FOR CONSOLIDATED ACCOUNTS

Monday, April 26, 2010

Summary for Consolidated Accounts

In our previous posts we discussed about consolidated accounts, you need to know following things about consolidated accounts.
  • The concept of a group and introduced several important definitions.
  • The principle regulations governing the preparation of group accounts.
  • The machines of preparing simple consolidated balance sheet. And procedures have been described for dealing with cancellation, calculating of minority interests, calculating of goodwill arising on consolidation.
  • A three stage drill has been described, the stages are,
    1. Cancel items common to both balance sheets
    2. Minority interests
    3. Goodwill

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