Excerpt from Consolidated Statements for Holding Company and Subsidiaries The book contains a discussion of underlying principles, illustrations showing the procedure of preparing consolidated working papers and statements, and supplementary exercises and problems to be solved by the reader. On several phases of consolidated statements there is some con ict of opinion as to the proper procedure and considerable variation in practice. This 13 particularly true in the matters of minority interest in a subsidiary with a ...
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Excerpt from Consolidated Statements for Holding Company and Subsidiaries The book contains a discussion of underlying principles, illustrations showing the procedure of preparing consolidated working papers and statements, and supplementary exercises and problems to be solved by the reader. On several phases of consolidated statements there is some con ict of opinion as to the proper procedure and considerable variation in practice. This 13 particularly true in the matters of minority interest in a subsidiary with a deficit, negative goodwill, and reserves for unrealized profit when there are minority interests. Where practice has not been standardized the fact 18 commented upon, the different methods of procedure are discussed, and the method which seems to the author to be correct in principle is indicated. It scarcely seems necessary to remind the reader that ac counting principles and income tax regulations do not always coincide. Taxable net income and invested capital do not always agree with the figures shown in the revenue statement and the balance sheet, yet these statements are the basis of a corporation's tax return, and the consolidated profit and loss statement and balance sheet are the basis of a consolidated return. This book 18 not an interpretation of the regulations pertaining to consolidated returns, but 13 an explanation of the accounting principles underlying the consolidated state ments which must be submitted in support of the return. The author wishes to acknowledge his obligation to his friend Roy Hall, who read the manuscript and offered helpful criticisms and suggestions. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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