ACCG 926 – Corporate Accounting Topic 1: Controlled entities – the th consolidation method lid ti th d Applying the consolidation method AASB 10 requires the application of the consolidation method th d Consolidation – process of preparing statements for group of entities under entities of financial of one of those Involves combining financial statements of individual entities to show financial position and performance of group Group – a parent and it’s subsidiaries
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The Reporting Entity and the Consolidation of Less-than-Wholly-Owned Subsidiaries with No Differential P3-33 (Page 144-145) Consolidated Worksheet and Balance Sheet on the Acquisition Date (Equity Method) Peanut Company acquired 90 percent of Snoopy Company’s outstanding common stock for $270‚000 on January 1‚ 20X8‚ when the book value of Snoopy’s net assets was equal to $300‚000. Peanut uses the equity method to account for investments. Trial balance data for Peanut and Snoopy as of January 1
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Leadership lessons from the Great Rail Yatra: Indian Railways In 2006‚ when the then Railway Minister rose to address the parliament with the rail budget‚ he said “Mr. Speaker Sir‚ I rise to present the Budget Estimates 2006-07 for the Indian Railways at a point in time when‚ there has been a historical turnaround in the financial situation of the Indian Railways.” The sheer size and scale of the Indian railways in terms of the volume of passengers and freight it carries to the number of trains
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School Consolidation Debate 1731 In recent years‚ municipal governments across America have found themselves searching for ways to trim costs by consolidating services with other municipal governments in the counties they’re in. They have consolidated law enforcement agencies‚ sanitation‚ health departments‚ municipal courts‚ etc. But in many of those counties‚ school systems have been left out of the discussion. In 2010‚ the Memphis City School (MSC) system made a failed attempt to merge with
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[Economy] Fiscal Consolidation‚ Fiscal Deficit : Meaning‚ Implications‚ Explained Why Vijay Kelkar Committee was formed? 1. Parts of Budget= Revenue + Expenditure 2. Types of Budget= Deficit/Surplus/Balanced 3. Why printing more money=Bad idea? 4. When fiscal deficit NOT BAD? 5. When & Why is fiscal deficit BAD? 1. Creates inflation 2. Black Money 3. Bond Yield increased 4. Crowding out investment 5. Twin deficit hypothesis 6. Current
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financial‚ trade and communication integration‚ to simply put it‚ the process of globalization has brought many drastic changes and improvements on global business. Naturally globalization has brought rich dividends to apparel industry and has helped to manufacture products of superior quality and value. With all the positive contribution of globalization such as international sourcing‚ releasing of trade barriers have been instrumental in creating more employment opportunities and expanding the
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Globalization Definition: It is the absence of borders and barriers to trade between nations. It also is a business strategy that means doing everything the same everywhere. Others believe globalization is interconnections between overlapping interests of business and society. Generally‚ globalization is a process whereby international interconnections in practically every sphere of activity are growing. A number of of these interconnections bring about integration‚ unity worldwide‚ others
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Accounting 323 – Intermediate Accounting III Summer 2013 Quiz # 6 Ch. 2 Consolidation of Financial Information Name 1. In a transaction accounted for using the acquisition method where the consideration transferred is more than fair value of net assets acquired‚ which statement is true? A. Goodwill is recorded. B. A deferred credit is recorded. C. A gain on bargain purchase is recorded. D. Negative goodwill is recorded 2. Assume that Company A
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Adolf Hitler’s Rise and Consolidation of Power Adolf Hitler arose from a young‚ inspired artist and decorated soldier to a malevolent Führer. Adolf Hitler’s beliefs stemmed from the German defeat in World War I. During his youth‚ Hitler’s anger capitalized after Germany had lost the war and believed that he could propose a stronger government that would bring power and esteem back toward Germany. Hitler had written a novel called‚ “Mein Kampf” outlining his ideas on a new Germany. As the evil‚ totalitarian
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19/10/2012 SESSION 1 THE GLOBALIZATION IMPERATIVE Today’s Agenda (Chapter 1) • 1. Why do we need to understand Global Marketing • 2. Globalization of Markets: Convergence and Divergence • 3. International trade vs International business • 4. Evolution of Global Marketing 1 19/10/2012 Overview • Increasingly global environment for today’s marketing manager • However‚ not a new phenomenon – The Silk Road – Trade Routes from Ancient Rome • The focus should be not the nature but
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