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Chapter: 4 / Q: 4.9
A principal limitation of consolidated financial state- ments is their lack of separate financial information about the assets, liabilities, revenues, and expenses of the individual companies included in the consolidation
Chapter: 4 / Q: 4.10
In the preparation of a consolidated statement of cash flows, what adjustments are necessary because of the existence of a noncontrolling interest? (AICPA adapted)
Chapter: 4 / Q: 4.11
What do potential voting rights refer to, and how do they affect the application of the equity method for investments under IFRS? Under U.S. GAAP? What is the term generally used for equity method investments under IFRS?
Chapter: 5 / Q: 5.1
Distinguish among the following concepts:
Chapter: 5 / Q: 5.2
In what account is the difference between book value and the value implied by the purchase price recorded on the books of the investor? In what account is the “excess of implied over fair value” recorded?
Chapter: 5 / Q: 5.3
How do you determine the amount of “the difference bet- ween book value and the value implied by the purchase price” to be allocated to a specific asset of a less than wholly owned subsidiary?
Chapter: 5 / Q: 5.4
The parent company’s share of the fair value of the net assets of a subsidiary may exceed acquisition cost. How must this excess be treated in the preparation of consolidated financial statements?
Chapter: 5 / Q: 5.5
What are the arguments for and against the alternatives for the handling of bargain acquisitions? Why are such acquisitions unlikely to occur with great frequency?
Chapter: 6 / Q: 6.1
Does the elimination of the effects of intercompany sales of merchandise always affect the amount of reported consolidated net income? Explain
Chapter: 6 / Q: 6.2
Why is the gross profit on intercompany sales, rather than profit after deducting selling and administrative expenses, ordinarily eliminated from consolidated inventory balances?
total questions: 263

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