Abstract
Consolidated financial statements present the financial position and results of operations for a parent (controlling entity) and one or more subsidiaries (controlled entities) as if the individual entities actually were a single company or entity. Consolidated financial statements often represent the only means of obtaining a clear picture of the total resources of the combined entity that are under the control of the parent company.
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Notes
- 1.
Catherine Baluch Gartner, et al., (2010): Consolidation Theories and Pushdown Accounting: Achieving Global Convergence, Journal of Finance and Accountancy, vol. 3, p. 5.
- 2.
Idem.
- 3.
Anne Coughlan (2014): New Pushdown Accounting Proposal Provides Clarity & Flexibility.
- 4.
Colley and Volkan (1988): Business Combinations: Goodwill and Push Down-Accounting, The CPA Journal, pp. 74–76.
- 5.
FASB (2014): Business Combinations (Topic 805)—Pushdown Accounting, p. 1.
- 6.
FASB (2014): Business Combinations (Topic 805)—Pushdown Accounting, p. 2.
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Lessambo, F.I. (2018). Consolidated Financial Statements. In: Financial Statements. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-99984-5_20
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DOI: https://doi.org/10.1007/978-3-319-99984-5_20
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