02-26-2009, 12:22 AM
If the reporting dates of Holding Company and its Subsidiary are different, the subsidiary is required to prepare additional financial statments for consolidation purposes as of the same date of the parent entity......in this case, adjustments must be made for the effects of significant transactions that have occured between the date of the Subsidiary's and the date of the Holding entity's financial statements.....
Query 1
Holding entity's year end 30 June 2008
Subsidiary's year end 30 September 2008
Un-insured assets worth Rs. 1,000,000 were lost due to fire on 31 August 2008.
What adjustment is required?
Query 2
Holding entity's year end 30 September 2008
Subsidiary's year end 30 June 2008
Un-insured assets worth Rs. 1,000,000 were lost due to fire on 31 August 2008.
What adjustment is required?
Query 1
Holding entity's year end 30 June 2008
Subsidiary's year end 30 September 2008
Un-insured assets worth Rs. 1,000,000 were lost due to fire on 31 August 2008.
What adjustment is required?
Query 2
Holding entity's year end 30 September 2008
Subsidiary's year end 30 June 2008
Un-insured assets worth Rs. 1,000,000 were lost due to fire on 31 August 2008.
What adjustment is required?
