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FAR STUDY GROUP
CPAnet Forum : FAR STUDY GROUP

Topic: Consolidation (

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berry0331
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Joined: 04 Sep 2011
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Posts: 49

Posted: 30 Apr 2012 at 16:07 \| IP Logged

So for the consolidated financial statements, does income from sub ever get
eliminated? Is there always the parent's share of sub's earnings?

astone
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Joined: 23 Mar 2011
Location: United States
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Posts: 91

Posted: 30 Apr 2012 at 16:30 \| IP Logged

The Subs retained earnings balance on the day of the acquisition is eliminated.

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