Joint Venture Accounting
11 March 2009
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One Comment
Dear Experts,
A Parent Company
B Subsidiary of parent company
C Joint Venture company : Share capital
Accumulated losses
B has adopted equity accounting to book the loss or profit of C.
C is under liquidation in next year and net assets distributed in JV partners.
How to book liquidation entries in the books of C and B.
Can this be considered as discontinued operations as per IFRS 5
Hemant
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