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Understanding the latest changes in consolidated financial statements
Author(s) -
Arcady Alex T.,
Hugo Daniel
Publication year - 1999
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/(sici)1097-0053(199922)10:4<39::aid-jcaf4>3.0.co;2-8
Subject(s) - accounting , business , financial system , finance
The latest Financial Accounting Standards Board (FASB) Exposure Draft will require more subsidiaries to be consolidated in financial statements, and it's a big change. Consolidation used to be required in cases which the parent has a majority voting ownership interest in the subsidiary, but now a less than 50‐percent‐owned entity must be consolidated if the control criteria are met. © 1999 John Wiley & Sons, Inc.