Is minority interest a current liability?

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When you prepare group accounts and you want to account for the minority interest or the non controlling interest, where is this balance included? Is it a current or a non current liability?

2 Answers

score 0 · Answer 1 · 2012-12-02T21:58:28+00:00

No, minority interest is a non current liability as you don’t expect to repay the liability within the following twelve months.

score 0 · Answer 2 · 2013-04-21T09:32:26+00:00

It depends if a company reports under GAAP or under IFRS. IFRS requires minority interest to be included in the equity section (it’s still a liability though). US GAAP gives the option to include minority interest in the liabilities section or in the equity section.