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From a journalist’s viewpoint, most interesting article ideas stem from entities consolidating subsidiaries that they effectively control.
By adding subsidiary financials to parent company financials, valuable information is disclosed. (hereafter Parent) invests in the equity of another company, named Subsidiary, Inc.
Periodically analysts question whether Molson Coors Brewing Company, which owns 42 percent of Miller Coors, should consolidate it.
Likewise, the Lenovo Group owns 45 percent of Beijing Lenovo Parasaga Information Technology Company but doesn’t consolidate it.
The FASB has issued guidance that is causing some entities to start consolidating subsidiaries.
To illustrate the importance of consolidation, consider a parent company that is small, consisting of a few employees, some furniture and not much else.