Question

Assume you are working on a complex consolidation team assigned to apply the equity method of...

Assume you are working on a complex consolidation team assigned to apply the equity method of accounting. You have reached an impassable dispute with another team member working on this project relating to the proper way to apply the equity method of accounting.

Why is it important that the matter is resolved? How will this issue affect the financial statements?

Please list references

Business   Accounting   
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Answer #1

Accounting methods principle was created by law we cant change law systems so there is no change in accounting method. The federation member-created equity model with perfect guideline so everyone should obey. The
argument should be solved according to their laws.

Affect the economic records in the subsequent way-

a. Guide to wrong consolidation

b. Guide to false reports to stakeholders.

c.Guide to case on the corporation for wrongful accounting & disclosure

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