Consolidating balance sheet after acquisition all dating services com

Posted by / 14-Dec-2017 20:32

Consolidating balance sheet after acquisition

and the year ended December 31, 2013 are presented as if the acquisition had occurred on January 1, 2013.The historical financial information is adjusted in the unaudited pro forma condensed combined financial information to give effect to pro forma events that are (1) directly attributable to the proposed acquisition, (2) factually supportable, and (3) with respect to the condensed combined statements of income, expected to have a continuing impact on the combined results.Question: When one company buys another, the subsidiary is often holding rights to numerous intangibles.As mentioned, acquisitions often take place to gain those rights.

An entity has control if it has the ability to direct the operating and financial policies of another with a view to gaining economic benefit.When the company is acquired, which of these intangibles are recognized on the consolidated balance sheet produced by the new parent?Answer: FASB has stated that a parent company must identify all intangibles held by a subsidiary on the date of acquisition.This article explains how to prepare basic consolidated financial statements for a group with one subsidiary.Consolidated financial statements were not examined at the equivalent level in the old syllabus.

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Generally accepted accounting principles requires a company to use consolidated accounting when it owns a controlling stake in another business.

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