Consolidated statements include post-control reserves and profits of subsidiaries.In general, these are:
1.for a subsidiary, the equities it generates after it is acquired; and
2.for a sub-subsidiary, the equities it generates after it is acquired or its parent is acquired, whichever is the later.

Question

Quizplus · Accepted Answer

Consolidated statements include both post-control reserves and profits of subsidiaries, which include the equities generated by subsidiaries after they are acquired, as well as the equities generated by sub-subsidiaries after they are acquired or their parent is acquired, whichever is later.

Consolidated Statements Include Post-Control Reserves and Profits of Subsidiaries