Question
You are working as the Controller for a large Parent Company - Company C - which has wholly-owned subsidiaries. The chief Financial Officer and President
You are working as the Controller for a large Parent Company - Company C - which has wholly-owned subsidiaries. The chief Financial Officer and President of Company C tell you they want Company C to include the company C Defined Contribution 401(k) Employee Benefit Plan in the Annual Consolidated Financial Statements for Company C The Chief financial officer and President of the Company want the plan included because the Plan has millions of dollars under its control Company C serves as the plan Sponsor and Plan Administrator and a Significant portion of the Contributions to the Plan come from Company C.
Please type out a response to the chief financial officer and president: whether the plan should be included in the company c annual consolidation financial statements. You must provide FASB Codification for proof
Please help
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