Compare Innovation in Small Businesses to Innovation in Large Firms

question 7

Essay

Compare innovation in small businesses to innovation in large firms. Provide some examples of successful innovations by small entrepreneurial firms.

Identify and calculate controlling and non-controlling interests in a consolidated financial statement.

Analyze the impact of intercompany transactions on consolidated financial statements.

Apply the cost method and the equity method for investments in financial accounting.

Compute the adjustments necessary for consolidating financial statements including the elimination of intercompany sales and unrealized profits.

---

Definitions:

Sigmund Freud

An Austrian neurologist best known for founding psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Spiritual Certainty

A firm belief in spiritual truths or doctrines, often without need for physical evidence.

Defense Mechanism

Psychological strategies brought into play by individuals, groups, or even nations to cope with realities and to maintain self-image.

Reaction Formation

A psychological defense mechanism where an individual unconsciously replaces unacceptable thoughts or feelings with their opposites.