An Analysis of Consolidated and Parent-Only Financial Statements of Indian Companies

Padmini Srinivasan and M S Narasimhan

The IUP Journal of Accounting Research and Audit Practices, 2008, vol. VII, issue 3, 27-42

Abstract: Along with several new accounting regulations related to disclosure practices, Indian companies were asked to provide Consolidated Financial Statements (CFS) since 2002. Unlike other disclosure regulations, consolidation was a major deviation from the earlier stand that consolidation would not provide additional information to the users of financial statements. This study examines whether there are any major structural changes in the operations of Indian companies, which warrant for a review of existing disclosure regulations, or whether it is mainly to maintain consistency with the international practices. The study concludes that the change of disclosure regulation favoring consolidation is more proactive in nature and consistent with the international practices than changes in the operations of Indian companies.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjar:v:07:y:2008:i:3:p:27-42

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