Scenario

The midsize manufacturing company for which you are the accounting advisor assessed the options you provided. The company has decided to purchase

$100$

$\%$

$$ownership in an overseas subsidiary, as well as

$75$

$\%$

$$ownership in a domestic subsidiary, which itself owns

$10$

$\%$

$$of the parent company. Your company now needs to determine the steps involved in consolidating the financial statements and has asked for your input. Include an analysis of the steps required in translating foreign currency and the process of accounting for the connecting affiliation.

Directions

Create a PowerPoint presentation that the accounting manager can use to explain the consolidation process to the board of directors.

must address the following rubric criteria:

Describe the typical steps for consolidating the financial statements of subsidiaries.

Explain how the connecting affiliation should be handled.

Analyze the temporal and current rate methods of consolidating financial statements.

Determine which eliminating journal entries need to be made to account for intercompany transactions.

$$Needs to be

$6$

$-$

$$to

$8$

$-$

slide PowerPoint presentation with detailed speaker notes and all required sections