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Unformatted text preview: Young Manufacturing. It will be paid regardless of whether or not the product is developed to our specifications. We have no equity in Young Manufacturing; however the contract does give us a seat on their board of directors. As the financial controller, the problem I face is how to properly disclose this contract on our financial statements. The problem we face is how to properly disclose this contract on our financial statements. How should we handle this relationship? Do we need to consolidate this entity on the financial statements? I appreciate your professional opinion and guidance on this matter. Please respond promptly and thank you for your time. Sincerely, Natalie Simons Financial Controller...
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- Spring '10