(163)-SUMMARY FOR CONSOLIDATED ACCOUNTS

Summary for Consolidated Accounts

In our previous posts we discussed about consolidated accounts, you need to know following things about consolidated accounts.

• The concept of a group and introduced several important definitions.
• The principle regulations governing the preparation of group accounts.
• The machines of preparing simple consolidated balance sheet. And procedures have been described for dealing with cancellation, calculating of minority interests, calculating of goodwill arising on consolidation.
• A three stage drill has been described, the stages are,
  1. Cancel items common to both balance sheets
  2. Minority interests
  3. Goodwill