top of page
Search
  • Writer's pictureThomas Tsang
    • Feb 3, 2021
    • 1 min read

Consolidation

When a holding company with a subsidiary or subsidiaries, it needs to prepare consolidation and issue consolidated financial statements per SFRS110, subject to exemption that the company itself is a wholly owned or majority owned subsidiary of another company. The holding company will prepare consolidated financial statements and publicly available. The shareholders should agree with it.


The non-consolidation of subsidiary is departure from SFRS and most likely adverse opinion on the auditor.


Separate financial statements is issued in addition to the consolidated financial statements of the company. It cannot be issued without the issue of the consolidated financial statements.


5 views0 comments

Recent Posts

See All

When apply discount on lack of marketability (DLOM) and lack of control (DLOC) on enterprise value (EV), it is a multiple of EV x (1-DLOM) x (1-DLOC). But apply the discount on Equity value would lowe

In accordance with SFRS109, investment in equity instruments must be subsequently measured at fair value. In limited circumstances, cost represents the best estimate when recent information not avail

In contract revenue to recognise using input method, one of the key audit procedures is to ascertain the budgeted cost of the project contract is reasonable. We need to test the underlining assumptio

bottom of page