1. Should the parent undertaking's consolidated balance sheet show a minority interest in respect of the preference shares?

2. However, producing a consolidated balance sheet without the fund balance sheets is hardly a satisfactory solution.

3. The consolidated balance sheet showed minority interests of ￡762,000 as at 30 November 1991 and ￡1,328,500 as at 30 November 1992.

4. Hence the consolidated balance sheet for 1988 shows Cofipex's stake in Bouygues SA as shares that the group held in itself.

5. In the consolidated balance sheet, the assets and liabilities of the combined party shall be measured pursuant to their carrying amount.

6. In the consolidated balance sheet, the assets and liabilities of the merged party shall be measured at their carrying amount.

7. In order to provide some sort of overall picture this authority, in common with most others, produces a consolidated balance sheet.

8. This seems inconsistent with the practice of producing a consolidated balance sheet.