UK Accounting Glossary
Grounds on which a subsidiary undertaking may be excluded from the consolidated financial statements of a group.
These are grounds on which a subsidiary undertaking may be excluded from the consolidated financial statements of a group, i.e. because the parent group’s interest in the subsidiary is held exclusively with a view to subsequent resale.
The subsidiary undertaking should not previously have been consolidated into the group accounts prepared by the parent company.
Where a subsidiary is excluded from inclusion on these grounds, it should be recorded in the consolidated financial statements as a current asset at either (1) cost less impairment or (2) fair value.
Rules are set out in S27 of the Financial Report Standard Applicable in the UK and Republic of Ireland.
The relevant International Reporting Standard is IFRS-5, Non current Assets Held for Sale and Discontinued Operations.
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Definitions for View To Resale are sourced/syndicated from:
This glossary post was last updated: 5th May 2019.