Commencement
AS – 23 comes into effect from April 1,2002.
Objective
The standard explains the effects of investments in associates on the financial position and operating results of a group.
Scope
‘Consolidated Financial Statement’ prepared by the investor should account for investments in associates in accordance with the standard. With regard to ‘Separate Financial Statements’ prepared by the investor the standard does not apply. For such ‘Separate Financial Statements’ the investor should apply Accounting Standard 13 – Accounting for Investments ‘(AS – 13)’
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