Consolidating joint ventures under gaap The best xxx online dating free apps

Posted by / 27-May-2020 04:38

Consolidating joint ventures under gaap

* The consolidated income statement is essentially a modification of the parent's income statement with the revenues, expenses, gains, and losses of subsidiaries substituted for a single-line presentation of the parent's income from investment in the subsidiaries.

The FASB felt that the GAAP for consolidations, issued in 1959, should be reviewed considering the inadequacy of some standards, the obsolescence of others, the problems with the standards identified by the SEC and by the American Institute of Certified Public Accountants, and the international changes in standards regarding consolidated statements.

in fact, whether to consolidate a controlled company that is less than majority owned is probably the single most difficult issue in the DM.

Determining how to consolidate involves answering questions of consolidation procedure.

* Consolidated net income is the income earned on all assets controlled by the management of the parent company.

Parent Company Concept The parent company concept emphasizes the interests of the parent's shareholders.

consolidating joint ventures under gaap-75consolidating joint ventures under gaap-79consolidating joint ventures under gaap-84

* Whether the carrying amounts of a subsidiary in consolidated financial statements following a business combination accounted for by the purchase method should be "pushed down" to the subsidiary's own separately issued financial statements. THE THREE CONCEPTS There are three alternative concepts of consolidated financial statements examined in the DM: economic unit, parent company, and proportionate consolidation.

One thought on “consolidating joint ventures under gaap”