Distinguish between upstream and downstream sales

Reference no: EM13128901

1. What is the essential procedural difference between work paper eliminating entries for unrealized intercompany profit when the selling affiliate is a less than wholly owned subsidiary and such entries when the selling affiliate is a parent company or a wholly owned subsidiary?

2. Why is it important to distinguish between upstream and downstream sales in the analysis of intercompany profit eliminations?

Reference no: EM13128901

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