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CA Final | Control - Meaning for Consolidated Financial Statements

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Arinjay Jain Academy

5 Views • Jul 10, 2015

Description

"There are two criterion to determine whether or not control exists, (a) Direct ,or Indirect ownership through subsidiaries, of more than one half of the voting Power, (b) Power to control composition of BOD or Governing Body of another company for obtaining economic benefits from its activities. However, even if definition as per law is not satisfied, even if it otherwise qualifies as a Practical control, its not relevant for CFS preparation.

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