Consolidating financial statements different year ends

The subsidiary operates independently of the parent.

The temporal method should be used to do the currency translation.

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Consolidated financial statements make the financial statements of the parent company and its subsidiaries appear like those of a single entity.This site uses cookies to provide you with a more responsive and personalised service.By using this site you agree to our use of cookies.Your parent company should command more than half the voting rights in a subsidiary to be able to claim control, but the scope of the parent’s control over a subsidiary is not entirely limited to majority shareholding exceeding 50 percent.Your parent company could own less than a 50-percent stake in a subsidiary, and still exercise control on the basis of power afforded to it by dominance in the board or majority voting rights.

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