Onsolidating U.S. and Foreign subsidiary financial statements

Consolidating U.S. and Foreign subsidiary financial statements: Is the consolidated information useful?

Two of the objectives of this course are as follows:
a?CO1 Demonstrate the accounting treatment for consolidations and related issues.
a?CO2 Demonstrate the accounting treatment of issues involving foreign currency.
The following article incorporates issues related to consolidations and the treatment of foreign currency. In our ever-changing global environment consolidations with foreign subsidiaries are becoming increasingly common. The research project for this course allows you to consider whether consolidating foreign operations with U.S. companies provides relevant information for stakeholders.

Read the following article:
Holt, P. E. (2004) A case against the consolidation of foreign subsidiariesa and a United States parentas financial statements. Accounting Forum, Volume 28, Issue 2, June 2004, Pages 159-165

The author concludes that consolidating U.S. and foreign-based financial statements masks useful information. In the near term however all countries will operate using IFRS.

Your primary goal is to address the authoras conclusion. You are not required to agree with the author. You should support your position with a well-reasoned argument.

Questions to consider:
1-Do you agree with the authoras conclusion? Explain. Support your response with a rationale, well-reasoned explanation.
2-Do you believe convergence to IFRS addresses the authoras concerns? Explain. Support your response with a rationale, well-reasoned explanation.
3-Does the U.S. and the International community need to reconsider the role of consolidated financial statements? The value relevance of consolidated statements?
4-What alternative might you suggest? Explain. Support your response with a rationale, well-reasoned explanation

The sources I want are 3 plus I will upload the one is mentioned above and 4 articles I want you to use, so the total will be 7 sources and one that required to read