Consolidation Accounting ➡️ Eliminating Investment in Subsidiary

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This video is an overview of eliminating intercompany activity when preparing consolidated financial statements under ASC 810. Watch Next ➡️ • Tesla 10k Review: Consolidation Accou... • Watch full playlist on Consolidation Accounting ➡️ • Accounting and Finance ➡️ Comprehensi... • This is the GAAP standard for accounting for the consolidation of business legal entities. If you are looking to learn more about ASC 810, studying for the CPA exam or a student taking accounting and finance courses, then this video is for you. • Why do you consolidate legal entities? A larger business generally speaking is made up multiple entities which reflect a full economic entity. • What are you consolidating? You are consolidating entities that you control and/or have power over which combines assets, liabilities, revenue and expenses along with eliminating any intercompany activity. • When do you consolidate financial? There are various reasons to consolidate a full economic entity, but several include: financing, audits, equity raises, public company reporting, etc. • How do you consolidate business entities? Follow ASC 810 which defines how a parent entity should consolidate controlling financial interest either by a voting interest or by variable interest. • #consolidation #consolidationaccounting #financialreporting #asc810 #accounting #gaap

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