1. What is passive investment? What are the impacts of passive investments on the balance sheet and the income statement?

2. Explain the accounting for inter-corporate investment under the equity method, and the Equity method impact on the ROE.

3. What are the basic rules for consolidation, accounting for non-controlling interests (minority interests).

4. What is the difference between fair value hedge vs. cash flow hedge and impact of each hedge on the income statement.

5. What is an accounting equity carve-out: sell-off, spin-off, and split-off.