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ExtremeBDS [4]
3 years ago
8

At a recent staff meeting, the vice president of marketing appeared confused. The controller had assured him that the parent com

pany and each of the subsidiary companies had properly accounted for all transactions during the year. After several other questions, he finally asked, "If it has been done properly, then why must you spend so much time and make so many changes to the amounts reported by the individual companies when you prepare the consolidated financial statements each month? You should be able to just add the reported balances together." Required: Prepare an appropriate response to help the controller answer the marketing vice president's question.
Business
1 answer:
hammer [34]3 years ago
6 0

Answer:

The accountant might be having issues with consolidating the reports of the individual subsidiary.

Explanation:

Below are appropriate responses:

(1) The accounting policies, principles adopted by each subsidiary might be different, hence this could lead to discrepancies and readjustments of the report by the controller.

(2) In order to ensure fair presentation and accuracy of financial information of the subsidiaries, the controller, might need to look over the financial statements.

(3) If the subsidiaries are foreign subsidiaries, the controller would need to translate the financial information, using the functional currency.

(4) Where, they are intra-group transactions (goods in transit, cash in transit, intra group sales and transfers), the controller would need to make adjustments of those transactions .

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<h3>What is a food trend?</h3>

Food trends are pervasive modifications in dietary patterns. Some of these tendencies show signs of enduring. Food trends are frequently discussed online and in periodicals that focus on cooking.

Pop culture, health fads, and other variables all have an impact on food trends. In fine dining, chefs frequently start new culinary fads that other restaurateurs imitate and adopt for their own menus.

The following are the top 5 food trends for 2022: food fusion, plant dominance, sustainable packaging, and limited yet inventive menus.

Thus, the food trend which will fade away in 2023 is Vegan food.

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2 years ago
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_____ are becoming more popular as organizations strive to keep up with technological advancements and compete in the global eco
MArishka [77]
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4 0
4 years ago
What is your employer required to have on fixed ladders that extend more than 24 feet in the workplace?
Dmitriy789 [7]

Answer:

B. Ladder safety or personal fall arrest systems

Explanation:

Under the provisions of OSHA laws, where the total length of a climb equals or is greater than 24 feet or 7.3 meters,  ladders must be equipped with one of the following safety devices.

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The law of supply and demand relates to
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3 0
3 years ago
Upon graduating from UCI, you start a job in finance earning $72,000 per year and decide to buy a home. You can afford to pay no
vovikov84 [41]

Answer:

Maximum size of home loan than can afford is  $209,471

Explanation:

Rate of interest on borrowing = 4%

Per month rate (r) = 4% / 12 = 0.33%  

n = 30*12 = 360 months

Maximum size of home loan than can afford =

= $1000 * PVAF (0.33% , 360)

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= $209471.35

= $209,471

Maximum size of home loan than can afford =  $209471

Note: Monthly payment * PVAF( r, n)

PVAF at (0.33% , 360)

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