Intermediate Accounting¶
Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2019). Intermediate Accounting. Wiley.
Cited by¶
1 citation across 1 artifact.
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Primes¶
- Double Counting
- In financial consolidation, intercompany sales count as revenue in each entity's books, so a consolidated statement must eliminate the intercompany flow to avoid reporting the same dollar twice.
This sourceStandard reference on consolidated financial statements and the elimination of intercompany revenue to avoid counting the same transaction twice. (Print textbook, ISBN 978-1-119-50366-8.)
- In financial consolidation, intercompany sales count as revenue in each entity's books, so a consolidated statement must eliminate the intercompany flow to avoid reporting the same dollar twice.
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