Where is minority interest found on the balance sheet? Websites say in the liability portion but I had heard that some new accounting rules put it in the equity portion.
Also, where is it found on the income statement?
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Yes, after FASB 160 and FAS 141r, noncontrolling interest (new terminology instead of "minority interest") is recorded in the shareholder's equity portion instead of the mezzanine portion between debt and equity.
On the I/S, it is found below net income.
Thanks for the link. Helped me a lot. Just for deeper understanding:
If company A holds >50% in B, A has to consolidate (100% on asset side and X% share as equity and 100%-x as minority interest)
However, does minority interest have to be represented on the b/s if company A holds 20%50% in B?
Thanks
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