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For financial reporting, a reporting entity can be a single company, or it can be a group of companies that reports a single set of
For financial reporting, a reporting entity can be a single company, or it can be a group of companies that reports a single set of financial statements. When changes occur that cause the financial statements to be those of a different reporting entity, we account for the situation as a change in reporting entity. What are the situations deemed to constitute a change in reporting entity?
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