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Commentary

29.2 Preparation

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

29.2 Preparation

| Commentary

29.2 Preparation

A parent company must not only draw up its own individual accounts under the normal rules, but it must also prepare group accounts1. These are consolidated accounts comprising a consolidated balance sheet dealing with the state of affairs of the parent company and its subsidiary undertakings and a consolidated profit and loss account dealing with the profit or loss of the parent company and its subsidiary undertakings2. A company which is not a traded company3 is generally exempt from the requirement to prepare group accounts if it is itself a subsidiary, the immediate parent undertaking is established under

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