Chapter 4: Consolidation of Wholly-Owned Susidiaries Acquired at More than Book Value PowerPoint presentation and the weekly lecture

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Chapter 4: Consolidation of Wholly-Owned Susidiaries Acquired at More than Book Value PowerPoint presentation and the weekly lecture.

The reporting treatment for investments in common stock depends upon the level of ownership and the ability to influence polices of the investee. This reporting treatment may even change over time as ownership levels or other factors change. When investees are not consolidated, the investments are generally reported in the investment section of the balance sheet. However, the investor’s income from those investments is not always easy to find in the investor’s income statement.

• How does Chevron Corporation account for the issuance of stock by affiliates?
• How does Chevron account for impairments in affiliates?
• Summarize the significant accounting for the approximately 10 upstream and downstream investments and comment on the part that these investments have on the balance sheet and income statement of Chevron.