FR (Page 313)

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-Minority interest share of revenue (retained profits) in subsidiary company on balance sheet date. Alternatively, the total due to the minority interest can be prepared by opening the Minority Interest account whereby the Minority interests share of the osc, capital reserves and retained profits in subsidiary company is postedto the credit side. iii) Group retained profits Retained profits ideally should be the amounts thatcan be distributed as dividends. Therefore, in arriving at group retained profits, careful attention should be paid to the profits of the subsidiary company. all the profits of the holding company can be distributed or are distributable. 168 Group Accounts STRATHMORE UNIVERSITY●STUDY PACK However, the subsidiaries profits belong to both the holding company and the minority interest.
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