TAILIEUCHUNG - Lecture Principles of Accounting: A focus on analysis and interpretation (8th edition): Chapter 17 - Hillman, Kochanek, Barsky

Chapter 17 - Business consolidations. This chapter presents the following content: Parent/subsidiary, consolidated financial statements, reciprocal accounts, consolidating, analyzing information. | Business Consolidations Parent/Subsidiary When investor owns more than 50% of voting stock of another company, assume ability to control Investor company is parent Investee company is subsidiary Consolidated Financial Statements Parent and subsidiary may be separate legal entities For reporting, view as single economic entity Consolidated financial statements show financial position and operating results of combined companies FASB No. 94 requires consolidation when parent has controlling interest Reciprocal Accounts Accounts in two separate sets of books that represent a common element and will cancel each other out Investment on parents books and owners’ equity on subsidiaries For intercompany transactions Accounts receivable and accounts payable Sales and cost of goods sold Consolidating Combine similar accounts from the separate financial statements of parent and subsidiary Eliminate reciprocal accounts Work Sheet for Consolidated Balance Sheet Par Sub Elimin Consol Cash 50 40 90 .

• Kế toán - Kiểm toán
• Principles of accounting
• Accounting information
• Lecture Principles of Accounting
• Business consolidations
• Consolidated financial statements
• Reciprocal accounts
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting