June 18, 2009

Forex currency trading – " This simply means that the statement represents an aggregate of the assets and liabilities of California Standard and its 38 wholly owned subsidiaries.

A subsidiary may be a corporate entity in its own right and issue its own balance sheet. But inasmuch as its assets actually are at someone else's disposal and its liabilities ultimately someone else's responsibility, they should be integrated into the balance sheet of the parent company. Note also that California Standard lists comparative figures for 1957. This is purely a convenience to the reader, to help give dimension to the company's financial facts. Now look at the Assets side of the balance sheet. Current Assets are traditionally listed first.

Forex currency trading – " This simply means that the statement represents an aggregate of the assets and liabilities of California Standard and its 38 wholly owned subsidiaries.

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