If you own a controlling stake in another business, accounting rules demand that you combine the financial statements of the parent and subsidiaries into one set of financial statements for the entire ...

The Obama administration’s procedures for preparing the government’s annual consolidated financial statement suffer from “control deficiencies” that contribute to material weaknesses in ...

The International Accounting Standards Board has proposed revising its standards in order to define investment entities as a separate type of entity that would be exempt from the requirements for ...

Financial statements are vital for businesses, from international corporations down to limited liability companies. These statements give investors an in-depth, accurate picture of a business’s ...

FASB addressed an area of accounting that has long been a concern for private companies Wednesday with the issuance of a standard designed to improve consolidation accounting for private companies.

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

NORWALK, Conn.--(BUSINESS WIRE)--The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) that reduces the cost and complexity of financial reporting ...

Consolidated financial statements combine a parent company's information with one or more subsidiary companies to produce one master document. Investors, lenders or regulatory agencies often require a ...