A reader of the consolidated financial statements of Gigantic Company received copies from another source of the
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A reader of the consolidated financial statements of Gigantic Company received copies from another source of the financial statements of the individual companies included in the consolidation. He is confused by the fact that the total assets in the consolidated balance sheet differ rather substantially from the sum of the asset totals reported by the individual companies.
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Will this relationship always be true? What factors may cause this difference to occur?
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Related Book For
Advanced Financial Accounting
ISBN: 9780072444124
5th Edition
Authors: Richard E. Baker, Valdean C. Lembke, Thomas E. King
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