Why are some adjustments in the previous periods consolidated nancial statements also made in the current periods

Question:

Why are some adjustments in the previous period’s consolidated ﬁnancial statements also made in the current period’s ﬁnancial statements?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

See More Books

Question Posted: Jun 09, 2015 03:19 AM

See More Questions

Why are retrospective adjustments made to earnings per share ratios?
Why do noncontrolling interests arise in connection with consolidated statements but not with investments in affiliated companies accounted for under the equity method?
In making consolidated nancial statement adjustments, sometimes tax-effect adjustments are made. Why?
A bank reconciliation takes time and must balance. An employee was struggling in balancing the bank reconciliation. Her supervisor told her to plug (make an unsupported entry for) the difference,...
On January 10, 2015, Mary transfers to Green Corporation a machine purchased on March 3, 2012, for $100,000. On the transfer date, the machine has a $60,000 adjusted basis and a $110,000 FMV. Mary...
Nesmith Corporation's outstanding bonds have a $1,000 par value, a 10% semiannual coupon, 12 years to maturity, and a 13% YTM. What is the bond's price Round your answer to the nearest cent. $
Are these attitudes of managers described above consistent with another view of dividends discussed earlier?
You are given the following payoff table (in units of thousands of dollars) for a decision analysis problem: (a) Which alternative should be chosen under the maximin payoff criterion? (b) Which...
3 - Given the following network: a) Find the earliest time the project will be completed. b) Find the critical path.. c) If activity C is delayed for 5 days, when the project will be completed?...
Before you begin, print out all the pages in this workbook. The unadjusted trial balance of Morgan Manufacturing Corp. at December 31, 2019 is shown on the "Trial Bal" page (see tab below). Refer...
Using an example, explain how the business combination adjustments affect the fair value adjustments.
On January 1, 2013, Pyxis Ltd. acquired all the share capital of Gemini Ltd. for $218,500. At this date, Geminis equity comprised: Share capital100,000 shares .....$100,000 Retained...
What do you think would be appropriate punishment for those found guilty of assault or indecent exposure in the Tailhook situation? Why? lop5
Following the example shown in (a) below, indicate the effects of the listed transactions on the assets, liabilities, and stockholders equity of John Dallmus, certified public accountant, a...
What effect does the ordering of a search tree have on the efficiency of the search? What effect does it have on the quality of the results? How would order affect the way that depth-first search or...
For each of the accounts listed below, indicate whether the account is increased by a debit or a credit: Accounts Receivable Sales Revenue Equipment Common Stock Notes Payable Retained Earnings...
Smart Sports is also planning to launch a range of drinks products. The products have been developed by Hydration Labs Ltd and are designed to be sold as powders that dissolve easily in water. They...
Baucom Company accepted credit cards in payment for $\$ 6,850$ of services performed during March 2011. The credit card company charged Baucom a 4 percent service fee. The credit card company paid...
The beam of Figure 7.56 is released and rotates as a rigid body and impacts at an angular speed of $\Omega$ $\mathrm{rad} / \mathrm{s}$. Assume that upon impact the beam latches onto the support...
Write the general quadratic equation y2 - 8y - 4x + 28 = 0 in standard form. Determine the vertex, focus, and directrix of the parabola defined by this equation. Sketch a graph.
In what ways is the response of a system with Coulomb damping different from that of systems with other types of damping?
How does the accounting treatment of a nine-month note payable differ from the accounting treatment of a five-year note payable within a governmental fund? Why?
How does the accounting treatment of a nine-month note payable differ from the accounting treatment of a five-year note payable within a governmental fund? Why?
Are interfund transfers expenditures? Expenses? Explain.
thumbs up if correct A stock paying no dividends is priced at $154. Over the next 3-months you expect the stock torpeither be up 10% or down 10%. The risk-free rate is 1% per annum compounded...
Question 17 2 pts Activities between affiliated entities, such as a company and its management, must be disclosed in the financial statements of a corporation as O significant relationships O segment...
Marchetti Company, a U.S.-based importer of wines and spirits, placed an order with a French supplier for 1,000 cases of wine at a price of 200 euros per case. The total purchase price is 200,000...

Why are some adjustments in the previous periods consolidated nancial statements also made in the current periods

Question:

Step by Step Answer:

The consolidation adjustments are only incorporated within the consolidated ...View the full answer

Advanced Accounting

Students also viewed these Accounting questions