Subsidiary undertaking

Accounting.

This concept replaced the term 'subsidiary' following its introduction in UK Companies legislation.

It is a wider definition, in that a parent/subsidiary relationship is based more on control rather than ownership.

Relevant accounting standards include Section 9 of FRS 102.

Sometimes abbreviated to 'sub'.

See also

• Associate
• FRS 102
• Government-related entity (GRE)
• Parent undertaking
• Participating interest
• Subsidiary