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    Applicability of Consolidated Financial Statements [CFS]

    Posted By : ARUN GANDHI / Published on : 10-Aug-2022 05:13 AM / View : 372 / Comment : 1

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    Hi All,

    Who all are required to prepare consolidated financial statements?
    Read more on : statements financial consolidated applicability

    • Hello Arun!

      As per Section 129(3) of the Companies Act, 2013:

      Where a company has one or more subsidiaries or associate companies, it shall, in addition to financial statements prepare a consolidated financial statement of the company and of all the subsidiaries and associate companies in the same form and manner as that of its own and shall also be laid before the annual general meeting of the company along with the laying of its financial statement.

      Provided that the company shall also attach along with its financial statement, a separate statement containing the salient features of the financial statement of its subsidiary or subsidiaries and associate company or companies.

      Thank You!

      19-08-2022 / 05:19:32 AM
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