Download the following articles from your library’s electronic database (e.g. ProQuest or ABI-Inform) and analyze them:

(a) Beckman, J.K., 1995. “The Economic Unit Approach to Consolidated Financial Statements: Support from the Financial Economics Literature”, Journal of Accounting Literature.

(b) Pacter, P., 1992. “Revising GAAP for Consolidations: Join the Debate”, The CPA Journal, July, pp. 38–47.

Required:

1. Explain the three competing concepts of consolidation as referred to in the articles and their effects on reported information.

2. Explain how Beckman uses financial economics’ research regarding corporate restructuring transactions to support a particular concept of consolidation.