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Topic: |
Business
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Number of pages / Number of words: |
13 / 3566 |
Essay's paper body
Companies controlled jointly are proportionally consolidated, and the investor is to record its interest, in percentage form in each balance sheet account. According to law, groups of companies must publish consolidated financial statements in addition to the financial statements of each company the group comprises...
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For income tax purposes, financial statements are required to be prepared by 31 December, so most companies end up aligning their accounting year with the calendar year. Also similarly to the rest of the world, Brazil follows the accrual basis of accounting in its formulation of financial statements...
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