Search found 5 matches

by david1
01 Jul 2022, 03:42
Forum: General accounting and financial reporting discussion
Topic: Deconsolidation for group of companies
Replies: 6
Views: 4452

Re: Deconsolidation for group of companies

If the subsidiary was part of the group during year, you have to include it in consolidated P&L up to the date of deconsolidation. Ps. Specific presentation rules apply if this subsidiary satisfies definition of a discounted operation: https://ifrscommunity.com/knowledge-base/discontinued-opera...
by david1
01 Jul 2022, 03:41
Forum: General accounting and financial reporting discussion
Topic: Deconsolidation for group of companies
Replies: 6
Views: 4452

Re: Deconsolidation for group of companies

Leo wrote: 29 Jun 2022, 17:46 You'll have it in the consolidated P&L, but nothing in the balance sheet at the year end's consolidated financial statements.

Because, whatever conso or not, balance sheet is a picture of the group at point in time and P&L records performances over time.
Thanks Leo!
by david1
29 Jun 2022, 09:28
Forum: General accounting and financial reporting discussion
Topic: Deconsolidation for group of companies
Replies: 6
Views: 4452

Re: Deconsolidation for group of companies

Thanks for your reply, but what about the standards according to financial reporting - is the income statement of the dissolved subsidiary to be aggregated to the consolidated income statement for the FY? Since the subsidiary will be dissolved in current FY, technically it will not show up in the co...
by david1
29 Jun 2022, 05:55
Forum: General accounting and financial reporting discussion
Topic: P&L or P/L?
Replies: 9
Views: 4883

Re: P&L or P/L?

I'm almost always be using P&L
by david1
29 Jun 2022, 05:17
Forum: General accounting and financial reporting discussion
Topic: Deconsolidation for group of companies
Replies: 6
Views: 4452

Deconsolidation for group of companies

In this group of companies there are 5 companies involved, 1 holding company and 4 subsidiaries. One of the subsidiaries is going through voluntary dissolution in the middle of the financial year, derecognising of the assets, liabilities and NCI of the subsidiary will take place in the month of diss...