What portion of other comprehensive income reported by a subsidiary is included in the consolidated statement of
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Advanced Financial Accounting
ISBN: 978-0078110924
9th edition
Authors: Richard Baker, Theodore Christensen, David Cottrell
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Financial statements of a business having numerous divisions or subsidiaries are called consolidated financial statements. Companies frequently refer to the aggregated reporting of their entire firm together when using the term \"consolidated\" in financial statement reporting. Consolidated financial statement reporting, on the other hand, is defined by the Financial Accounting Standards Board as the reporting of an entity that is organized with a parent company and subsidiaries.
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