Wednesday, July 21, 2010 8:37:12 PM
The revised financial statements still make no sense to me.
I asked my kid who is a beancounter to look at the reports.
The balance sheet does not indicate that it is consolidated.
My kid says there should have been something listed in the assets for the other companies but they do not appear at all. There should have been some kind of hard assets or even goodwill but nothing.
The income statement shows that it is consolidated. My kid said something about minority interests (whatever that is) should appear if the other companies are not 100% owned.
The "kid" as I like to call him wrote something for me. Maybe readers can help me interpret it. "Income and expenses for acquired companies are consolidated from the dates acquired and not for the reporting period of the controlling shareholder".
I would think that if something was acquired there would have been something in the press.
I am going to ponder this while having a Moose - Moosehead for the non-Canadians.
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