Gaap generally accepted accounting principles
When dealing with a continued consolidation- there are several issues.docx
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When dealing with a continued consolidation, there are several issues to consider. The first issue is dealing with the concept of reciprocity. Please consider the following questions: Does the same team of accountants create the traditional financial statements that do the consolidation? When the consolidation adjustments are made where are the adjustments recorded? Who keeps track of these adjustments? Solution consolidation means joint the balance sheets of more than 2 companies which are under one umbrella. consolidation accounts are prepared by the team of accountants and auditors who appointed by the parent company. usually there would not be any adjustments, if there is any need of adjustments then they will be adjusted in the individual balance sheets and the adjusted values carries to the consolidated balance sheet. .
When dealing with a continued consolidation- there are several issues.docx
- When dealing with a continued consolidation, there are several issues to consider. The first issue is dealing with the concept of reciprocity. Please consider the following questions: Does the same team of accountants create the traditional financial statements that do the consolidation? When the consolidation adjustments are made where are the adjustments recorded? Who keeps track of these adjustments? Solution consolidation means joint the balance sheets of more than 2 companies which are under one umbrella. consolidation accounts are prepared by the team of accountants and auditors who appointed by the parent company. usually there would not be any adjustments, if there is any need of adjustments then they will be adjusted in the individual balance sheets and the adjusted values carries to the consolidated balance sheet.