08-04-2006, 05:41 PM
Separate financial statements as per IAS 27 are applicable to group of joint entities. Parent companies are required to prepare separate financial statement for all of the entities in which they have interest. IAS 27 also applies the restriction of counting that interest on direct equity basis and does not allow accounting on basis of reported results and net assets of the investee. Whenever reading IAS 27 keep in mind that we are talking about parent - subsidiary relation ships.
I am not aware of Pakistani companies preparing separate financial statements in accordance with IAS 27. There are few in Australia, but Aust has its own financial standards not much different from IAS, any way try to find out a business group (I would check Karachi stock exchange web site for that) and then check financials of parent company of that group, you will find useful information
Regards
Zeeshan
I am not aware of Pakistani companies preparing separate financial statements in accordance with IAS 27. There are few in Australia, but Aust has its own financial standards not much different from IAS, any way try to find out a business group (I would check Karachi stock exchange web site for that) and then check financials of parent company of that group, you will find useful information
Regards
Zeeshan
