to be allocated to a specific asset of a less than wholly owned subsidiary? 4. The parent company’s share of the fair value of the net assets of a subsidiary may exceed acquisition cost. How must this excess be treated in the preparation of consolidated financial statements? 5. Why are marketable securities excluded from the noncurrent assets to which any excess of fair value over cost is to be allocated? 6. P Company acquired a 100% interest in S Company. On the date of acquisition the
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the subsidiary is dissolved‚ it will not be operated as a separate division B.If the subsidiary is dissolved‚ assets and liabilities are consolidated at their book values C. If the subsidiary retains its incorporation‚ there will be no goodwill associated with the acquisition D.If the subsidiary retains its incorporation‚ assets and liabilities are consolidated at their book values E.If the subsidiary retains its incorporation‚ the
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2013 in accordance with the provisions of the new EU CRR Regulation. On the other hand‚ as part of the implementation of the Banking and Credit Adequacy Directives1‚ § 10a (7) of the German Banking Act (KWG) obliges all parent institutions to use consolidated accounts as the basis for determining their own funds and risk exposure for the purpose of solvency reporting (Common Reporting Framework‚ COREP)2. Current legislation requires groups of institutions to create both the FINREP and COREP reports
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Kinh Do Corporation Report of the Board of Management and Audited consolidated financial statements 31 December 2009 Kinh Do Corporation CONTENTS Pages REPORT OF THE BOARD OF MANAGEMENT 1-4 AUDITED CONSOLIDATED FINANCIAL STATEMENTS Independent auditors’ report Consolidated balance sheet Consolidated income statement Consolidated cash flow statement Notes to the consolidated financial statements 5-6 7-8 9 10 - 11 12 - 44 Kinh Do Corporation REPORT OF THE BOARD OF MANAGEMENT
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From Your Knowledge and the Sources‚ How Far do you agree With the View That Hitler Consolidated His Power by Legal Means? There were many different views during 1933 and after 1933 that disagreed on whether or not Hitler had consolidated his power through legal means. Sources B and C disagree with this statement; they are of the opinion that Adolf Hitler consolidated his power through illegal means. Source A‚ however‚ agrees with the statement‚ and provides evidence which implies that Hitler was
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on the findings of our audit‚ the consolidated financial statements comply with IFRS‚ as adopted by the EU‚ the additional requirements of German commercial law pursuant to § 315a (1) HGB and give a true and fair view of the net assets‚ financial position and profit or loss of the Group in accordance with these requirements. The Group management report is consistent with the consolidated financial statements and as a whole provides a
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framework for control of public expenditure b. Provide good financial management systems c. Govern methods of public funds to be administered & accounted d. Define borrowings powers of Federal & State e. Provide guidelines on the maintenance of Consolidated Fund f. Provide guidelines on budget & annual statement of assets & liabilities 2. 8 main categories a. Revenues a.i. Art 96 & 110 - all revenues (tax or rate) are due to the Federal government except : At least 10% export duty on tin produced
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CHAPTER 3 CONSOLIDATIONS—SUBSEQUENT TO THE DATE OF ACQUISITION Answers to Discussion Questions How Does a Company Really Decide which Investment Method to Apply? Students can come up with literally dozens of factors that should be considered by Pilgrim in making the decision as to the method of accounting for its subsidiary‚ Crestwood Corporation. The following is simply a partial list of possible points to consider. Use of the information. If Pilgrim does not monitor its own income levels
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Primark was basically a utility company until 1987‚ when it exited that business and forged into information services. Primark originated from the early 1980s spin-off of Michigan Consolidated Gas by American Natural Resources. At the time‚ American Natural Resources was operating two primary subsidiaries: Michigan Consolidated Gas‚ which was a distributor of natural gas serving the Detroit area‚ and a sister company that operated an interstate gas pipeline. Although the two companies seemed to complement
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Example of a Representation Letter Client Representation Letter for Registration Statements C L I E N T L E T T E R H E A D [Date 20XX] Auditor Attn Auditor Ladies and Gentlemen‚ This letter is written to you in connection with the prospectus dated XXXXXXX 20XX‚ filed by [Company Name]. In that connection we advise you that since December 31‚ 20XX‚ the date of the audited financial statements and the notes thereto included in the above prospectus‚ there were‚ with respect to
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