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Circumstances under which a subsidiary company can be excluded from consolidation
Consolidated financial statements shall include all subsidiaries of the parentA parent need not present consolidated financial statements if and only if;
1) The parent is itself a wholly owned subsidiary, or is a partially-owned subsidiary of another entity and its other owners, including those not otherwise entitled to vote, have been informed about, and do not object to, the parent not presenting consolidated financial statements.
2) The parent’s debt or equity instruments are not traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets).
3) The parent did not file, nor is it in the process of filling, its financial statements with securities commission or other regulatory organization for the purpose of issuing any class of instruments in a public market.
4) The ultimate or any intermediate parent of the parent produces consolidated financial statements available for public use that comply with international financial reporting standards.
A company declared a $.50per share cash dividend on December 1,2013. The Company has 20,000 shares authorized, 9,000 shares issued, and 8,000 shares of common stock outstanding. Pr
Relationship between these aspects is set out in Figure. Figure: The accounting information system There are four sequential stages of an
A of surat consigns goods to B of jaipur to be sold at or above price .Be is entitles to get a ommission of 8% on sales at invoice price plus 25% of any surplus price realized. B
Focus Company issued a $30,000, 20 year bond with a stated interest rate of 7%. Assume interest payments are made annually. What is the selling price of the bond if the market ra
Did ford realize any gain or loss from securty sales during 2009?
WyseFinance maintains a non-current asset register for recording information for non-current assets for a business. The business is registered for VAT. The following is a purcha
Calculate breakeven in sales units and in sales value: Tycoon makes and sells 600 toy cars per month. Each toy car is sold for RM40 each. Tycoon is currently producing at 50
BALANCE SHEET Grouping of items: Items in the Balance Sheet should be grouped under appropriate headings. In particular, a trust operating the provisions of the Trustee Act
inventory ratio of 4 compared to 7.1
Select two of the following firms: Dole Foods, Campbell Soup, Hershey and Dr. Pepper Snapple. Use the 10-K, annual report and other information to answer the following questions.
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