Unit 3 Discussion Part 1 Advance Accounting
letdueTopic #1: Reciprocity?
When dealing with a continued consolidation, there are several issues to consider. The first issue is dealing with the concept of reciprocity. Please consider the following questions:
- Does the same team of accountants create the traditional financial statements that do the consolidation?
- When the consolidation adjustments are made where are the adjustments recorded?
- Who keeps track of these adjustments?
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