Great Western Manufacturing Inc

question 42

Essay

Great Western Manufacturing Inc. ("GWM") was acquired by Great Eastern Holding Ltd) ("GEH") in 2018. The Vice President, Finance of GWM has asked you, the manager in charge of this year's audit, whether or not GWM has to prepare consolidated financial statements for the year ended December 31, 2018. GWM has about fifteen wholly owned subsidiaries and has in the past prepared consolidated financial statements.
Required:
Prepare a discussion around the need to prepare consolidated financial statements.

---

Definitions:

Reprocessing

A psychological technique aimed at helping individuals to re-examine and reinterpret past experiences from a new perspective.

Sense Of Identity

The awareness and understanding of oneself as a separate and distinct individual, including one's traits, beliefs, and personality.

Intellectual Functioning

A measure of a person's cognitive abilities, including reasoning, problem-solving, planning, abstract thinking, comprehension, learning, and judgment.

Sense Of Identity

An individual's conception and expression of their own individuality or group affiliations, such as cultural or national identity.