Share this content
0
231

How to consolidate multinational groups

How to consolidate multinational groups with different accounting standards i.e. US GAAP and UK FRS

Didn't find your answer?

Search AccountingWEB

Is anyone able to guide me on the steps a U.K. Parent reporting under UK FRS would take to consolidate a U.S. subsidary that reports under US GAAP.

How do multinational groups typically consolidate individual entities that report under different accounting standards?

Do they in practice all report under the Parent Company's home accounting standards? 

I am curious to understand this as I would have thought that due to the differences in different recognition criteria under for example US GAAP and UK FRS this might lead to incorrect or unallowable standards under different criterias.

Thanks in advance! 

Replies

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.

Share this content