subsidiary undertaking

subsidiary undertaking
= group undertaking
An undertaking that is controlled by another undertaking (the parent or holding company). The extent of the control needed to define a subsidiary is given in the Companies Act (1985). The financial statements of a subsidiary undertaking are normally included in the consolidated financial statements of the group.

Accounting dictionary. 2014.

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  • subsidiary undertaking — For accounting purposes, a company is required to prepare consolidated accounts for itself and every undertaking (including an unincorporated association) which is its subsidiary undertaking . Parent and subsidiary undertakings are defined in… …   Law dictionary

  • subsidiary undertaking — group undertaking An undertaking that is controlled by another undertaking (the parent or holding company). The extent of the control needed to define a subsidiary is given in the Companies Act (1985). The financial statements of a subsidiary… …   Big dictionary of business and management

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  • undertaking — un‧der‧tak‧ing [ˌʌndəˈteɪkɪŋ ǁ ˈʌndərteɪ ] noun 1. [countable usually singular] an important job, piece of work, or activity that you are responsible for: • Starting a new business can be a risky undertaking. 2. [countable] COMMERCE a business: • …   Financial and business terms

  • unconsolidated subsidiary — An undertaking that, although it is a subsidiary undertaking of a group, is not included in the consolidated financial statements of the group. See: exclusion of subsidiaries from consolidation …   Accounting dictionary

  • unconsolidated subsidiary — An undertaking that, although it is a subsidiary undertaking of a group, is not included in the consolidated financial statements of the group …   Big dictionary of business and management

  • quasi-subsidiary — A company, trust, partnership, or other arrangement that does not fulfil the definition of a subsidiary undertaking but is directly or indirectly controlled by the reporting entity and gives rise to benefits for that entity that are in substance… …   Accounting dictionary

  • quasi-subsidiary — A company, trust, partnership, or other arrangement that does not fulfil the definition of a subsidiary undertaking but is directly or indirectly controlled by the reporting entity and gives rise to benefits for that entity that are in substance… …   Big dictionary of business and management

  • controlled undertaking — Any subsidiary undertaking within the meaning of the Financial Services and Markets Act 2000 (FSMA), other than section 258(4)(b) of the Companies Act 1985 or section 420(2)(b) of FSMA. Practical Law Dictionary. Glossary of UK, US and… …   Law dictionary

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