on 2016 Oct 06 3:32 PM
An entity A is partially owned by parent holding company( entity B) ( by 80%) and being consolidated under purchase method.
Does the current year netincome needs to be allocated to minority interest for 20%?
Appreciate input..
Yes.
In general, the percentage not owned by holding company has to be allocated to Minority.
So Minority will be values from:
1. Current year profit or loss
2. Share capital
3. opening retained earning.
Regards,
Rahul
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Bluesky
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