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Determining when one entity should consolidate another can be complex. However, it is important to investors because when one entity consolidates another, it reports the other entity’s assets, liabilities, revenues, and expenses together with its own, as if they are a single economic unit. Consequently, the consolidation decision can significantly impact the reported leverage, results of operations, and cash flows of the consolidating entity.
In accounting, control is required for one entity to consolidate another. Control, as it is described in ASC 810, is the foundation for the consolidation model.
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