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In section 810 of the Codification guidelines for Consolidations are discussed.The following 810-10-45-11
Parent-Entity Financial Statements
In some cases parent-entity financial statements may be needed, in addition to consolidated financial statements, to indicate adequately the position of bondholders and other creditors or preferred shareholders of the parent. Consolidating financial statements, in which one column is used for the parent and other columns for particular subsidiaries or groups of subsidiaries, often are an effective means of presenting the pertinent information. However, consolidated financial statements are the general-purpose financial statements of a parent having one or more subsidiaries; thus, parent-entity financial statements are not a valid substitute for consolidated financial statements.
Explain what the paragraph meant about parent entity statements.
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According to the Albrecht text, tips and complaints are not evidence of fraud. Instead, the claim is made that they are symptoms of fraud. Why is this so? Why might it not be true? What is your opinion?
Compute the physical units of production and compute equivalent units of production for materials and for conversion costs.
Brad Thomas, a 53-year-old retail store manager earning $75,000 a year, has worked for the same company during his entire 28-year career. Brad was recently laid off and is still unemployed 10 months later, and his severance pay and 6 months' unemploy..
Identify and discuss which of the Institute of Management Accountant's ethical standards might be used to sustain this point of view. Also, describe the role that flexible budgeting may play in reducing environmental impacts.
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