Using the U.S. Securities and Exchange Commission’s EDGAR database, select a public company that has consolidated subsidiaries

Then answer the following questions:

1) What is the accounting valuation basis for consolidating assets and liabilities in the business combination?

2) What percentage ownership does the parent have in one of the subsidiaries reported?

3) Are there any outside interests that have been accounted for with this subsidiary?

4) Is there any goodwill recorded? If yes, are there notes in the financial statement regarding a goodwill impairment loss? If so, how were they recorded? If not, how and when should any goodwill impairment loss is recorded?

Answer rating: 100% (QA)

Advanced Financial Reporting When reporting on an organization with foreign subsidiaries the preparation of the reports sometimes becomes more complicated due to inclusion requirements of the report T... View the full answer