 Today's topic is group accounts and in group accounts the consolidation is the main thing in it. So first of all let's see the learning outcomes. Consolidation is a huge subject and step by step approach will enable students the basic group accounts. Now working group structure calculate goodwill and non-controlling interest. These three words group structure mean in a particular group which companies are there then how the goodwill is going to be calculated when you are acquiring a certain company the goodwill of that company and the non-controlling interest they are the one who have minority shareholdings. Understand the difference among holding subsidiary, sub subsidiary, associates, joint venture, joint operations. So these are the individual topic so we have to go one by one that if we have the holding company and then we have the subsidiary and if we add another subsidiary or if we add an associated company so there are different topics which we have to cover. They will prepare consolidated financial statement and they will make necessary adjustment to eliminate the intergroup balances. Another important thing in group account is that since they are dealing with each other so their inter-company balances transactions should be eliminated because group means a one unity not a different company just one but that includes number of companies. The goal of these standards is to establish principles for presentation and preparation of consolidated financial statements when an entity control one or more other entities that one holding company the big company having shares in the other company. So if you are a holding company and they are your subsidiaries then you need to prepare the consolidated accounts. To meet the objective require an entity the parent. Parent is the main company who is taking care of the other companies that control one or more entity not necessarily there is one parent company and there is only one subsidiary there can be more than 2, 3, 4 subsidiaries. So holding company parent company with control and they prepare the consolidated financial statements and control is the basis for consolidation that is the most important thing. This word control is explained time and again in the standards that what we mean by control. Control here means to take charge of policy making that if you are in a position to dominate in policy making that it means you have a control. Set out how to apply the principles of control to identify whether an investor control investing and therefore must consolidate the investing. Now again these two words investor is the parent company those who are buying the shares of other companies investing in which the holding company is investing. So parent company is investing company and subsidiary or sub subsidiaries are investing companies. So we have to make a consolidated accounts. Set out the accounting requirement for preparation of the consolidated financial statements. Now see all these four standard which I mentioned criteria is if you have a share holding of a company more than 50% maybe 100% but not less than 50% or you may have 20% to 50%. So the one which is more than 50% is your subsidiary company or sub subsidiary and if it is 20 to 50 it is associates company and joint arrangements may doh chi zayn ghi a joint control may joint ventures or joint operations you doh chi zayn. Ab isme deke share holding ka clear karlein ya more than 50% hai to aapko isme sub subsidiary company or associate hai to usme aapko 20 to 50 hai or joint venture operation alexa chi zayn. Isme control ki jaan tak baat hain majority votes full control yani aapke pas pura control hai or significant influence. Waha weh domination hai pehle case me aur yaha pa significant influence aur aage doh sharing hai 50-50 or joint operation mein sharing depends upon whatever agreement they have. Accounting part of it acquisition or purchase method, equity method and in case of operations it can be equity method or cost method. So for sharing of assets and liabilities revenues etc. And standards number mentioned IS-27, IFRS-10, IFRS-3, IS-28, IFRS-11, IFRS-11. So these are the standards which covers these consolidation. Now parent company basically investing company and subsidiary company or companies entity investing entity having direct control say 80% holding by the parent company. Then subsidiary if parent have 80% or 75% of more than 50% control that other company that will be a subsidiary company which parent having indirect control through the subsidiary sub subsidiary in the indirect control and if you have a subsidiary company in that case you don't have a direct control but you have a control through a subsidiary. So that is another vertical group that you got parent company, you got subsidiary company, you got sub subsidiary company. Then there is another D type of structure. D type of structure means parent having subsidiary, subsidiary having sub subsidiary and parent also have in the D company. So it can be a curve, it's a D shape and associates company is very simple 20% to 50%. So these are the group structure. Thank you very much.