Please see the attached assignment details... This will be due by end of day today.

INSTRUCTIONS: Please provide 250 word ORIGINAL responses to each of the two topics. Make sure work is original and cite your sources. Topic #1: Reciprocity? When dealing with a continued consolidation, there are several issues to consider. The first issue is dealing with the concept of reciprocity. Please consider the following questions: Does the same team of accountants create the traditional financial statements that do the consolidation? When the consolidation adjustments are made where are the adjustments recorded? Who keeps track of these adjustments? Topic #2: Fair Value? Topic 2: Under traditional accounting methodology, historical cost is the accounting evaluation tool. However, when consolidations are implemented, the fair market value is used. Please consider the following questions: Why is it important that consolidations prescribe to fair value? When is the adjustment made? How often is the adjustment recalculated? How are the adjustments kept? Respond per your Syllabus guidelines