The rules for consolidated reporting for financial statement purposes are the same as the rules for consolidated reporting for tax purposes.
ASC 810 governs consolidated financial reporting while IRC sections 1501-1504 and the accompanying regulations govern income tax consolidation.

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The statement is false. ASC 810 governs consolidated financial reporting while IRC sections 1501-1504 and the accompanying regulations govern income tax consolidation. The rules may overlap in some areas, but they are not identical.

The Rules for Consolidated Reporting for Financial Statement Purposes Are