Problem
1. What are some reasons why consolidated reports are thought to be relevant? Discuss-the-limitations of consolidated financial statements and why dual reporting (consolidated and separate entity statements) as well as other forms of disaggregated reporting, such as SFAS No. 131, make sense.
2. Why does the FASB's reporting entity project logically precede any conelusion regarding consolidated financial reporting?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.