Question
A holding company is required to prepare consolidated
financial statements. The financials of which of the following will be includes in the consolidated financials, by the holding company?Solution
A holding company is required to prepare consolidated accounts. Consolidated financial statements present the financial position and results of a group of companies (comprising the holding company and its subsidiaries and associate companies, including joint ventures) as if they were a single entity. This requirement ensures transparency and provides a complete picture of the financial health and performance of the entire group. This is a requirement as per Section 129 of the Companies Act too. The company shall also lay before the annual general meeting, such consolidated financials.Â
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