U.S. GAAP requires a reporting entity to consolidate an entity in which it has a controlling financial interest. There are two primary models for assessing whether there is a controlling financial interest. Identify and discuss the accounting treatment required by each.

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The Answer of U.S. GAAP requires a reporting entity to consolidate an entity in which it has a controlling financial interest. There are two primary models for assessing whether there is a controlling financial interest. Identify and discuss the accounting treatment required by each.

US GAAP Requires a Reporting Entity to Consolidate an Entity