ASB ASC 810-10-45-11 states that in some cases parent-entity financial statements may be needed, in addition to consolidated financial statements, to indicate adequately the position of bondholders and other creditors or preferred shareholders of the parent. Why parent-equity financial statements are not a valid substitute for consolidated financial statements?
ASB ASC 810-10-45-11 states that in some cases parent-entity financial statements may be needed, in addition to consolidated financial statements, to indicate adequately the position of bondholders and other creditors or preferred shareholders of the parent. Why parent-equity financial statements are not a valid substitute for consolidated financial statements?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter18: Comparative Forms Of Doing Business
Section: Chapter Questions
Problem 5P
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FASB ASC 810-10-45-11 states that in some cases parent-entity financial statements may be needed, in addition to consolidated financial statements, to indicate adequately the position of bondholders and other creditors or preferred shareholders of the parent.
Why parent-equity financial statements are not a valid substitute for consolidated financial statements?
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