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