Author : H. A. Finney
Release : 2015-06-16
Genre : Business & Economics
Kind : eBook
Book Rating : 963/5 ( reviews)

GET EBOOK

Book Synopsis Consolidated Statements for Holding Company and Subsidiaries by : H. A. Finney

Download or read book Consolidated Statements for Holding Company and Subsidiaries written by H. A. Finney. This book was released on 2015-06-16. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Consolidated Statements for Holding Company and Subsidiaries This book is intended to embrace the principles and procedure involved in the preparation of the consolidated statement of cost of goods sold, the consolidated profit and loss statement, the consolidated surplus statement and the consolidated balance sheet. Students of accounting who are preparing for the examinations of the various C. P. A. boards or the American Institute of Accountants must be familiar with the subject of consolidated statements for holding companies and their subsidiaries, for the examinations frequently contain more or less complicated problems requiring the preparation of such statements. The income tax law, which requires consolidated returns supported by consolidated income statements and balance sheets, makes a knowledge of the method of preparing these statements imperative for the corporation auditor, the public accountant and the tax counsellor. It is surprising that the literature which deals with consolidated statements is so meager when one considers that so many accountants and students of accounting are interested in the subject and that the statements themselves may be involved by an almost infinite variety of complications. These complexities arise from the fact that the holding company may or may not account properly for the investments in subsidiary stock; that minority interests may exist; that subsidiary earnings since acquisition may exceed dividends received during the same period, or vice versa; that the holding company may take up as profit the earnings of the subsidiary or the dividends received; that the stock may have been acquired by purchase from former stockholders, by subscription or as a stock dividend; that book value at acquisition may have exceeded cost, or vice versa; that the stockholdings may have been acquired by a single purchase or by several purchases; that the holdings may be in common or preferred stock or both; that inter-company profits may remain unrealized in inventories and in fixed assets; etc., etc. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com 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.