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What are intercompany eliminations?

Intercompany Economics
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Question added by Shameer Nazir Madari , Assistant Finance Manager , METAL AND RECYCLING COMPANY K.S.C. (PUBLIC)
Date Posted: 2016/04/30
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Gaurav Ahuja
by Gaurav Ahuja , AVP and Manager , 0 HSBC EDC

Intercompany elimination refers to the process for removal of transactionsbetween companies included in a group in the preparation of consolidated accounts. 

 

Objective is to avoid double reporting of numbers as entities are aggregated at the Group level.

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