The issue is how the term ‘intermediaries’ should be interpreted for the purposes of paragraphs 3 and 13 of AS 18. For the purposes of paragraphs 3 and 13 of AS 18, the term ‘intermediaries’ should be confined to mean enterprises which are ‘subsidiaries’ as defined in AS 21, Consolidated Financial Statements. | Accounting Standards Interpretations 19: Interpretation of the term ‘intermediaries’