01Feb 2021
Consolidation- Definition, Origin, Examples, and How It Relates to Accounting
This presumption and foundational principle were established in 1959, and while the basic principles endure, today’s consolidation analysis has evolved dramatically since then. Sweeping changes in 2003 introduced the variable interest entity consolidation model, and 2007 brought highly anticipated guidance on accounting for noncontrolling interests. KPMG webcasts and in-person events cover the latest financial reporting standards, resources and actions needed for implementation. If the parent company has been using a common paymaster system to pay all employees throughout the company, ensure that the proper allocation of payroll expenses has been made to all subsidiaries. For example, a company that...
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