Prepare consolidated statement of financial position of Mommy Group as at 31 December 20X4.Measure NCI at its proportionate share of Baby’s net assets.The best course of action will depend on what kinds of pension you have and how long you have until retirement.Making the most of your pensions now could have a significant impact on your happiness in retirement; getting it right could mean a higher income, or even an earlier retirement date.
You can use the consolidation functionality to combine the financial results for several subsidiary companies into results for a single, consolidated company.
As we have discussed earlier here, Section 129(3) discuss about consolidation of accounts.
Where a company has any subsidiary, the company shall prepare a consolidated financial statement of the company and of all subsidiaries in the same form and manner as that of its own.
In the Currency Exchange Rate Table, you can select the option of using the Local (Parent) or Business Unit (Subsidiary) as the source; alternatively enter the exchange rates from the business unit card as indicated above.
If you use the Additional Reporting Currency (ACY) as the consolidation currency, then you need to run the Adjust Exchange Rate batch job in the consolidated company for the ACY.