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What would be the result if company records the transactions

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Problem 1: Find an article that discusses the consolidation of financial statements in relation to investments and review the FASB code for this topic. Do you consider that the article is consistent with the current FASB code? Why or why not?

Problem 2: During this week, we are reviewing inter-company transactions and the way they are reported in the financial statements of each company that participates in them. What would be the result if a company records the transactions resulting from an operation between companies, but the company with which it carried them out does not? What ethical factors would be affected if this practice has been done repeatedly?

Reference no: EM132830526

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