Chosen company is Kroger.

In this assignment, you will complete Section II and V of the final project. You will prepare a Word document that addresses the critical elements below. Make sure you answer each question in a substantive way and defend your content with at least one scholarly source other than your textbook. Specifically, the following critical elements must be addressed:

II. Consolidations of Financial Statements:

A. Based on research from your chosen company, explain the corporate structure in terms of consolidation. How is it organized from a consolidated viewpoint? What are the reasons for this particular type of organization?

B. How does the consolidation impact how the accounting information flows into the consolidated financial statement? Describe the process.

C. Are there any income tax benefits from consolidating the financial statements for your company? Defend your response.

V. Conclusion:

There has been a major global crisis, and your companys board of directors has announced that the company is going bankrupt. No one could have seen this one coming. Your CEO has called you in to his office to start the insolvency process. Based on the latest published financial statements, your job is to come up with a plan that will be used to inform the company, its shareholders, and its creditors.

A. As your companys controller, compose a summary report to your CEO advising him on the effects of the insolvency.

B. From a global perspective, what effects would the insolvency of your company have on the U.S. economy as well as the global economy (i.e., other countries)?

C. Construct a worksheet for the CEO showing the effects of the insolvency on the company, shareholders, and creditors.