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Describe the nature of accounts which are eliminated while preparing consolidated financial statements.

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Question ajoutée par Utilisateur supprimé
Date de publication: 2014/08/17
Muhammad Kamran
par Muhammad Kamran , Senior Manager - Audit and Advisory , Deloitte

Inter-group accounts

Owais Qasim Qasim
par Owais Qasim Qasim , Internal Audit Officer , Shan Foods Private Limited

As per standards both copmanies are (parent and subsidiary) treated as single entity, therefore, all intra group trading must be eliminated.

For e.g. sale and purchase of inventory or fixed assets, receivable and payables between susbi and parent , etc

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