The Financial Accounting Standards Board, which sets rules for U.S. companies' financial statements, and the International Accounting Standards Board, which does the same worldwide, requires companies to prepare consolidated financial statements when they hold a controlling interest -- more than 50 percent ownership -- in other businesses.
Scalawags and Carpetbaggers. Scalawags and Carpetbaggers were derogatory terms used in the aftermath of the Civil War. Scalawags referred to a group of white Republican Southerners who sympathized with the federal Reconstruction effort.
Historical Examples. 1  We'll hang the little Scalawag on the south side and the carpetbagger on the north. 2  The charge of corruption laid at the door of the Negro carpetbagger governments is to a large extent true. 3  Generally they came two together, arm in arm, a carpetbagger and a negro in close confab.