Fussion Company is considering diversifying its operations through the acquisition of a financial services company and an
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Question:
Fussion Company is considering diversifying its operations through the acquisition of a financial services company and an ecotourism company. The director of the financial department (CFO), Mr. Gustavo Monies, wants to know how the accounts of these two companies, which are substantially different subsidiaries, will be reported in the consolidated financial statements. What accounting standards (Accounting Standards Codification) address this topic, two examples of situations in which it would be appropriate to combine similar accounts of subsidiaries.
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