Books about consolidating debt
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For example, if the parent company has $1 million in total assets and the acquired subsidiary has $500,000, then the combined assets are $1.5 million ($1 million $500,000).Additionally, most credit card companies will not work with non-accredited firms. A debt consolidation business is no different from any other startup. In reality, most debt owners could do the consolidation work on their own if they began contacting their creditors directly and discussing options.The licensing and accreditation might take extra time and money, but it will provide you with the knowledge you need and will offer reassurance to your customers. Your plan should take a number of important factors into account: how you will run your business, how much you will need to operate the business, how you will market and advertise the business, how much marketing and advertising will cost and where you will locate the business (and why). A debt consolidation firm simply saves the debt owner the trouble of making these calls.The shareholders' equity section of the consolidated balance sheet would consist of the capital stock of the parent company and an entry for the investment in the subsidiary company.
If the parent controls less than 100 percent of the shares of a subsidiary, then the consolidated balance sheet must have a separate line showing the non-controlling interest, which refers to the ownership interest of shareholders other than the parent company.
In addition to the elimination of inter-company sales, the preparation of consolidated statements requires certain other elimination entries to make the statements reflect a single corporate entity.