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Consolidating financial statements equity

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Consolidated financial statements report the aggregate of separate legal entities.A parent company can operate as a separate corporation apart from its subsidiary companies.160, which is effective for fiscal years beginning after Dec. 160 provides improved terminology and conceptually consistent resolution to several reporting and measurement issues. 160 was issued as a separate standard because the original Statement no.Consolidated financial statements are the combined financial statements of a parent company and its subsidiaries.Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they let you gauge the overall health of an entire group of companies as opposed to one company's standalone position.

The revenue generated from one legal entity is offset by the expenses in another legal entity.Equity method in accounting is the process of treating equity investments, in associate companies. The investor's proportional share of the associate company's net income increases the investment (and a net loss decreases the investment), and proportional payments of dividends decrease it.In the investor’s income statement, the proportional share of the investor’s net income or net loss is reported as a single-line item.The result, in FASB’s own words, was that “GAAP had no clear accounting and reporting guidance for the noncontrolling interest in a subsidiary” (Statement no. This lack of guidance led to an unclear and inconsistent concept of NCI that, in turn, created diverse and unproductive reporting.Most major corporations comprise numerous companies bought along the way to create their empires.Equity accounting is usually applied where the entity holds 20–50% of voting stock, since this implies significant influence on the decisions of the associate by the holding company.