Choose at least two concepts from the following: partnership, corporation, liquidation, bankruptcy chapter 7, bankruptcy chapter 11,...

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Accounting

Choose at least two concepts from the following: partnership,corporation, liquidation, bankruptcy chapter 7, bankruptcy chapter11, reorganization, trust, estates, consolidation, parent company,subsidiary, acquisition, partnerships termination, variableinterest entity, equity method, fair value method.
Required:
Explain how you may use them in your present or futureaccounting position. Make sure you provide details to include howeach concept will help you support the financial goals of thecompany you currently work for or will work for in the future.

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Equity method The equity method is an accounting technique used to assess the profits earned through investments in other companies My company reports the income earned on the investment on its income statement and the reported value is based on the my companys share of the company assets The reported profit is proportional to the size of the equity investment My company holds 20 of another companys stock it has significant control which signifies the power my company can exert over the other company This power includes representation on the board of directors partaking in policy development and the interchanging of managerial personnel If the other company earns a net income of 1 million my company reports earnings of 20 of it ie 200000 The initial investment is recorded at cost That value is periodically adjusted to reflect the changes in value due to my companys share in the other companys income or losses Equity Method Earnings Adjustment My company has a significant influence on the operating and financial results of another company the investee hence it See Answer

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Choose at least two concepts from the following: partnership,corporation, liquidation, bankruptcy chapter 7, bankruptcy chapter11, reorganization, trust, estates, consolidation, parent company,subsidiary, acquisition, partnerships termination, variableinterest entity, equity method, fair value method.Required:Explain how you may use them in your present or futureaccounting position. Make sure you provide details to include howeach concept will help you support the financial goals of thecompany you currently work for or will work for in the future.