Fundamentals of Advanced Accounting
Fundamentals of Advanced Accounting
7th Edition
ISBN: 9781259722639
Author: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
Publisher: McGraw-Hill Education
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Chapter 4, Problem 1Q
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Explain the meaning of term non-controlling interest.

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Answer to Problem 1Q

The interest which is other than that of parent company in any entity is termed as non-controlling interest.

Explanation of Solution

Non-controlling interest:

The interest which is other than that of parent company in any entity is termed as non-controlling interest. The non-controlling interest specifies the percentage of ownership which is not owned by the parent company.

For example, if the parent company own 70% in the subsidiary then the remaining 30% is the non-controlling interest.

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