Discuss the limitations of consolidated financial statements and why dual reporting (consolidated and separate entity statements) as

Question:

Discuss the limitations of consolidated and why dual reporting (consolidated and separate entity statements) as well as other forms of disaggregated reporting, such as SFAS No. 131, make sense.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...