0
Why companies consolidate their subsidiaries for financial reporting purposes?
Wiki User
∙ 10y ago
Subsidiary companies are also part of group of companies so parent company is required to show the financial statements of group as a whole so that's why consolidated financial statements are prepared
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What is the difference between reporting and non reporting entities?
A "non-reporting" entity refers to companies whose stock is publicly traded but which is exempt from reporting to the Securities & Exchange Commission. Usually these companies report publicly by posting financial information on the OTC Markets website voluntarily. These postings, however, are not subject to audit requirements or more generally to SEC reporting requirements. A "reporting" entity refers to companies whose stock is publicly traded and must file financial and other information with the Securities & Exchange Commission.
How does GAAP affect financial reporting?
How does GAAP affect financial reporting?
Do financial reporting and financial statement mean the same thing?
"Do the term financial reporting and financial statement mean the same thing?"
Why may regulation of financial reporting be important?
The regulation of financial reporting is important in order to make sure that said financial reporting is accurate and transparent. This, in turn, is important to prevent fraud and malfeasance.
What body has defined the purpose of financial accounting and reporting?
The basic foundation of governmental financial accounting and reporting in the United States was established by the Governmental Accounting Standards Boards (GASB) in its "Objectives of Financial Reporting,"
What is the difference between reporting and non reporting entities?
A "non-reporting" entity refers to companies whose stock is publicly traded but which is exempt from reporting to the Securities & Exchange Commission. Usually these companies report publicly by posting financial information on the OTC Markets website voluntarily. These postings, however, are not subject to audit requirements or more generally to SEC reporting requirements. A "reporting" entity refers to companies whose stock is publicly traded and must file financial and other information with the Securities & Exchange Commission.
The standards and rules that are recognized as a general guide for financial reporting are called?
you may be thinking of Generally Accepted Accounting Principles (GAPP). These rules are pertinent to US companies. Internationally we have IFRS- International Financial Reporting Standards
How does GAAP affect financial reporting?
How does GAAP affect financial reporting?
When was Financial Reporting Council created?
Financial Reporting Council was created in 1990.
Do financial reporting and financial statement mean the same thing?
"Do the term financial reporting and financial statement mean the same thing?"
What determines fair financial reporting?
But in the end, fair financial reporting depends on the integrity of the company's financial team.
When was Financial Reporting Council of Nigeria created?
Financial Reporting Council of Nigeria was created in 1982.
Why may regulation of financial reporting be important?
The regulation of financial reporting is important in order to make sure that said financial reporting is accurate and transparent. This, in turn, is important to prevent fraud and malfeasance.
What does it mean information reporting?
Information reporting refers to the process of reporting financial or non-financial information to regulatory authorities, tax agencies, or other relevant parties. This helps ensure transparency, compliance with regulations, and accuracy in reporting financial transactions.
What body has defined the purpose of financial accounting and reporting?
The basic foundation of governmental financial accounting and reporting in the United States was established by the Governmental Accounting Standards Boards (GASB) in its "Objectives of Financial Reporting,"
How does society benefit from the financial reporting process?
what is the process for reporting accidents?
Why do you think some companies only report the financial health of the organization once a year while others report bi-annually or even quarterly?
Companies choose to report their financial health with different frequencies based on several factors. Those reporting annually typically have less frequent performance fluctuations and may incur lower costs related to financial reporting. Companies opting to report bi-annually may have moderate to high performance fluctuations, but still prefer a longer reporting period to evaluate trends. Lastly, companies reporting quarterly usually have high performance fluctuations and may benefit from closer monitoring and communication with stakeholders, given the importance of up-to-date financial information. The frequency of reporting ultimately depends on the nature, size, and needs of the company.
