Consolidation- disposal of subsidiary
I would like to have your opinion on the below.
A Company usually prepares consolidated accounts for a 100% owned subsidiary and the year end is March.
For the year ended March 2010, the shares were transfered to another company on the 15th March 2010.
What i want to know is whether do i have to prepare consolidated accounts for this year. How should it be presented?I know the PL should be consolidated at date of disposal but what about the balance sheet? Can i not prorate the PL as i have only 15 …