Kindly if an entity is reporting to group of companies as subsidiary because the holding company own 49% of this company only so on the consolidation level we are consolidating the equity only , my question for the trade transactions between this entity and other group entities will be classified as Inter-company transaction or as trade creditors ( like any external supplier) ???
As per IAS, under consolidation, inter company transactions and inter company profits are to be eliminated.
Yes, as normal inter-company only and eliminating transactions are at the …