Accounting - consolidation report

CFA Level II FRA
#1

In consolidation, companies combine all of the assets, equity, liabilities, revenues, and expense of subsidiaries with the parent.

Not sure if above is correct or not.

#2

Not equity.

#3

Thanks. But if Asset and Liability yes, why Asset - Liability can’t.

#4

It creates Non-controlling Interest in Equity, when acquiring less then 100 %.

#5

Thanks. So we can’t add up “Asset” either?

#6

We will add Assets & Liabilities, but in Total Equity- NCI will also gets added to balance the equation.