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A company "A" received some services form company "B" in the year 2013; company "A" booked expenses but "B" skipped to book the sales. in the year 2015 both "A" and "B" were acquired by another company "C". Standalone balance sheets of "A" and "B" are already audited without adjusting above balances, so some amount payable is coming in the books of "A" where no balance is there in "B"s books. So how will I present the this difference in intercompany balances? Can sales be booked in "B" books or purchase be reversed in "A" books at the time of consolidation, point is "A" and "B" books are already audited without booking the sales or reversing the purchase.

Thank You in advance.
in IFRS 10 - Consolidated Financial Statements by

1 Answer

0 votes

As per IAS 10 Events After The Reporting Period

You can book sales for the "Company B" and thus the adjustments to be made at the Audited financial Statements.

by Level 2 Member (3k points)