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The article examines the entity approach to consolidated statements and its implications for financial reporting.

The Entity Approach to Consolidated Statements.

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Article discusses the entity approach to consolidated statements in corporate accounting, indicating implications for asset reporting.

The article examines the entity approach to consolidated statements and its implications for financial reporting.
Review of accounting principles regarding consolidated statements
Analysis of the economic versus legal entity concepts
Discussion on the presentation of assets and liabilities
Examination of the role of the dominant parent corporation
Consolidated statements reflect the operations of related companies as a single economic entity.
Assets and liabilities must be reported in relation to the controlling parent company.
Minority interests rely on individual company statements for investment status information.

Maurice Moonitz (1942) studied this question.

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