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A Free CPA Notes FAR > Intercompany Transactions > Flashcards

Intercompany Transactions Flashcards

1
Q

Consolidated Amounts

A

Book Value of the Acquiring company plus book value of the company being acquired.

Deduct Intercompany Transactions

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2
Q

Intercompany account Deferral of Gains

A

Is added back to Consolidated COGS

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3
Q

Intercompany transactions not sold to outside parties

A

Eliminated from Consolidation Financials

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4
Q

Intercompany Account of Unrealized Gains

A

Is Subtracted from Consolidated COGS

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A Free CPA Notes FAR (30 decks)

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