Define the following terms: a. Non-controlling interest b. Minority interest c. Proportionate consolidation d. Parent-company approach

Question:

Define the following terms:

a. Non-controlling interest

b. Minority interest

c. Proportionate consolidation

d. Parent-company approach

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Advanced Financial Accounting

ISBN: 9780131236998

5th Edition

Authors: Thomas H. Beechy

See More Books

Question Posted: Jan 31, 2024 04:00 AM

Define the following terms related to reciprocating engines: stroke, bore, top dead center, and clearance volume.
Define the following terms used in FASB Statement No. 13 as Amended: (a) Inception of lease, (b) Bargain purchase option, (c) Unguaranteed residual value, (d) Implicit interest rate, (e) Initial...
Define the following terms regarding preferred stock: (a) Dividend preference, (b) Cumulative, (c) Participating, (d) Convertible, (e) Warrants, (f) Callable, and (g) Redeemable.
Describe the flow of costs through the T-accounts in a job order cost system.
What would be the market risk and the required return of a 50-50 portfolio of Alta Inds and Repo Men of Alta Inds and Am. Foam?
Journal entries for estimated warranty liabilities and subsequent expenditures. A new appliance introduced by May pool Corporation carries a two-year warranty against defects. The firm estimates that...
What is the purpose of the project manager conducting a performance review with each member of the project team? AppendixLO1
Using the formulas provided for utilization calculate the utilization of your classroom.
Why is performing any appraisal or assessment not in compliance with assessment laws and regulations unethical?
Under a pure application of the new-entity approach of reporting minority interest, what value is assigned to goodwill?
Refer to P46. During 2008, the following events occurred: 1. Silly Inc. had sales of $800,000 to Practical Corp. Sillys gross margin was still 40% of selling price, and its income tax rate continued...
Woodchuck Timber Pty Ltd grows, harvests and processes timber for use in the building industry. The following data relate to the company's sawmill during June: Work in process, 1 June: Direct...
Pacifico Company, a U.S.-based importer of beer and wine, purchased 1,500 cases of Oktoberfest-style beer from a German supplier for 390,000 euros. Relevant U.S. dollar exchange rates for the euro...
Palmerstown Company established a subsidiary in a foreign country on January 1, Year 1, by investing 8,000,000 pounds when the exchange rate was $1.00/pound. Palmerstown negotiated a bank loan of...
Required information [The following information applies to the questions displayed below.] The following is financial information describing the six operating segments that make up Chucktown Sauce...
Question 1 (50 marks) Costa Ltd is a company with a 30 June year end. The following information relates to Costa Ltd and its subsidiary Jumbo for the year ended 30 June 20.22. Costa Ltd Jumbo Ltd Dr...
The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments deducted from their pay. You do not need to...
What is the difference between a pure hypervisor and a pure microkernel?
Define deferred revenue. Why is it a liability?
Meroo Corp. reported a deferred income tax liability of $28,000 on its 31 December 20X7 SFP. The income tax liability relates entirely to the difference between the UCC and net book value of...
Loo Corp. was incorporated in 20X5. Details of the companys results are presented below: Required: 1. Prepare journal entries for tax for 20X5, 20X6, and 20X7. Assume that realization of the benefit...
Truan Corp. reports a deferred income tax asset loss carryforward on the SFP at 31 December 20X3 in the amount of $668,800. The asset reflects the benefit of a tax loss carryforward recorded in 20X2....
Flexible manufacturing places new demands on the management accounting information system and how performance is evaluated. In response, a company should a. institute practices that reduce switching...
Revenue and expense items and components of other comprehensive income can be reported in the statement of shareholders' equity using: U.S. GAAP. IFRS. Both U.S. GAAP and IFRS. Neither U.S. GAAP nor...
Kirk and Spock formed the Enterprise Company in 2010 as equal owners. Kirk contributed land held an investment ($50,000 basis; $100,000 FMV), and Spock contributed $100,000 cash. The land was used in...

Define the following terms: a. Non-controlling interest b. Minority interest c. Proportionate consolidation d. Parent-company approach

Question:

Step by Step Answer:

a NonControlling Interest NCI Noncontrolling interest also referred to as minority interest is the portion of equity ownership in a subsidiary not att...View the full answer

Advanced Financial Accounting

Students also viewed these Accounting Theory questions