In Microsoft Excel, what is the formula to calculate present value?
What is the difference between a marginal tax rate and an effective tax rate?
The marginal tax rate is the rate of tax paid on a dollar of additional income, whereas the effective tax rate is the amount of tax paid divided by total taxable income.
When preparing consolidated financial statements, what are some typical elimination entries related to any held equity-method investments?
In preparing consolidated financial statements, you should always eliminate any intercompany transactions, which may include items such as rents, management fees, sales, and/or cost of sales. You should also eliminate any subsidiary income posted to the parent company, and all subsidiary equity accounts.