https://www.taxtmi.com/acts?id=41013 Interests in jointly controlled entities are investments in separate financial statements but are reported in consolidated financial statements by proportionate consolidation, presenting separate line items for the venturer's share of assets, liabilities, income and expenses; exceptions apply for interests held for near-term disposal or subject to severe long-term restrictions, which are accounted for as investments. Proportionate consolidation requires alignment of reporting dates and accounting policies, recognition of goodwill or capital reserve on acquisition differences, and allocation of excess losses to venturers unless legal obligations to cover losses exist. en-us Mon, 07 Nov 2022 11:42:07 +0530 Tue, 06 Jan 2026 15:32:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=41013 Interests in jointly controlled entities are investments in separate financial statements but are reported in consolidated financial statements by proportionate consolidation, presenting separate line items for the venturer's share of assets, liabilities, income and expenses; exceptions apply for interests held for near-term disposal or subject to severe long-term restrictions, which are accounted for as investments. Proportionate consolidation requires alignment of reporting dates and accounting policies, recognition of goodwill or capital reserve on acquisition differences, and allocation of excess losses to venturers unless legal obligations to cover losses exist. Act-Rules Companies Law Mon, 07 Nov 2022 11:42:07 +0530 https://www.taxtmi.com/acts?id=41013