Combinations & Special Reporting Flashcards
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Terms in this set
- Consolidation Combining the financial statements of a parent and its controlled subsidiaries into one set of statements.
- Goodwill The excess of the purchase price over the fair value of identifiable net assets acquired in a business combination.
- Equity Method An investment accounting method used when the investor has significant influence over the investee.
- Comprehensive Income The change in equity from non-owner sources, equal to net income plus other comprehensive income.
- Statement of Stockholders Equity A statement reconciling the beginning and ending balances of each component of equity.
- Fund Accounting Accounting that segregates resources into funds to track restrictions and accountability in government and nonprofit entities.