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Loss / profit from joint venture / subsidiary

14 February 2009 2,372 views 3 Comments

Dear Experts,

Do we need to pass an entry for share of loss / profit in joint venture in the books of subsidiary stand alone books FS and also the same in the books of parent company stand alone books.

or to be considered only for out of books consolidation purposes.

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3 Comments »

  • cmanishiyer said:

    Hi,
    Obviously there cannot be double counting.

    Regards,
    CA Manish Iyer
    +919825286903

    # 16 February 2009 at 5:12 am
  • Joint Venture Intelligence » Blog Archive » international joint venture said:

    [...] Loss / profit from joint venture / subsidiary | IFRSLIST.COM – The … Dear Experts, Do we need to pass an entry for share of loss / profit in joint venture in the books of subsidiary stand alone books FS and also the same in. [...]

    # 16 February 2009 at 6:20 am
  • tony21 said:

    in the seperate financial statements you need to pass only the share of profit/loss(if there is any) that is payable as didivend or recognised as obligation .it depends on the joint venture agreement
    in the consolidated statement you cancel these entries and you consolidate jvs according to either equity or proportionate

    # 27 February 2009 at 3:20 pm

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