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Category > Accounting Posted 15 Apr 2020 My Price 7.00

ACC 401 Week 5 Discussion Consolidated Financial Statements – Intra-Entity Asset Transactions

"Consolidated Financial Statements – Intra-Entity Asset Transactions" 

· The consolidation process required for the intra-entity transfer of depreciable assets is different from the requirements for inventory and land. Analyze the current consolidation process for intra-entity transfer of depreciable assets and suggest at least one (1) improvement to the process. Provide an example to support your recommendation.     

· Assume that company P (parent) uses the equity method to account for its investment in company S (subsidiary). Company P purchases inventory items from company S. According to FASB’s guidance, the accountant must remove the inter-company profit from Company S’s net income. Evaluate the consolidation process for inventory transfers between the parent and subsidiary and describe the process for eliminating profit from the non-controlling interest. Determine if the process permanently eliminates the profit from the non-controlling interest or merely shifts the profit from one period to the next. Provide support for your rationale.

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SmartExpert
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Status NEW Posted 15 Apr 2020 09:04 AM My Price 7.00

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file 1586944758-ACC 401 Week 5 Discussion.docx preview (812 words )
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