Investment companys characteristics O c. The company or its affiliates do not obtain or have the objective of obtaining returns or benefits from an investee or its affiliates that are not normally attributable to ownership interests or that are other than capital appreciation or investment income o d. The company has multiple investments e. The company has multiple investors
Investment company’s characteristics c. The company or its affiliates do not obtain or have the objective of obtaining returns or benefits from an investee or its affiliates that are not normally attributable to ownership interests or that are other than capital appreciation or investment income d. The company has multiple investments e. The company has multiple investors
Investment companys characteristics ●f。. The company has investors that are not related to the parent or investment manager o g. The company's ownership interests are in the form of equity or partnership interests h. The company manages substantially all of its investments on a fair value basis (with changes in fair value recognized in profit or loss
Investment company’s characteristics f. The company has investors that are not related to the parent or investment manager g. The company’s ownership interests are in the form of equity or partnership interests h. The company manages substantially all of its investments on a fair value basis. (with changes in fair value recognized in profit or loss.)
Consolidated financial statements o Prepared by the parent company ● Parent discloses Consolidation policy, Exceptions to consolidation Fiscal year end o Use parent's fiscal year but o May include subsidiary statements with fiscal year within 3 months of parent's fiscal year
3-40 Consolidated financial statements Prepared by the parent company Parent discloses Consolidation policy, Exceptions to consolidation Fiscal year end Use parent's fiscal year, but May include subsidiary statements with fiscal year within 3 months of parent's fiscal year
An introduction to Consolidated financial statements 2: Consolidation of Wholly Owned Subsidiary
3-52 2: Consolidation of Wholly Owned Subsidiary An Introduction to Consolidated Financial Statements
100%o Cost=FV=BV Balance Sheet (Y1.1.1) s consolid ated s consolid ated Cash 300150 Account 300130 Payable Investment 0 Capital 100 50 Stock Other Retained 230100 250 70 Assets earnings Total Assets 650250 L&SE 650250
53 100%,Cost=FV=BV Balance Sheet（Y1.1.1） P S Consolidated P S Consolidated Cash 300 150 Account Payable 300 130 Investment 120 0 Capital Stock 100 50 Other Assets 230 100 Retained earnings 250 70 Total Assets 650 250 L&SE 650 250