The KU article that I found that discusses some aspect of consolidated financial statements was on disclosures and it talks about a companies interim consolidated financial statements that does not have the companies disclosures on it yet so you have to have their disclosures next to it when looking over the interim consolidated financial statement. “All disclosures required for annual consolidated financial statements have not been included in these financial statements.” (Editors, 2011) This quote shows the importance that a company need to by law have their disclosures ready in the consolidated financial statements to be able to do their taxes and audits properly. The FASB Code 810-10-50-1 though paragraphs 22 show the importance of why disclosures need to be disclosed in the consolidated financial statement if a parent company has subsidiaries according to FASB Code 810-10-50-2, “a parent with one or more less-than-wholly-owned subsidiaries shall disclose…” (FASB, 2018) This show the importance of disclosures from companies in their consolidated financial statements so that they can show more financial records to their managers, owners and investors. I think the article complies with the current FASB code since they are just comparing the disclosures next to the interim consolidated financial statements before they make the official consolidated financial statement that is going to be presented to the IRS.
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Editors, B. (2001, May 14). SNC-lavalin reports growth in net income. Business Wire Retrieved from
FASB. (2018). FASB Accounting Standards Certification. Retrieved January 15, 2018, from

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