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.
In the history of the United States, a carpetbagger was a Northerner who moved to the South after the American Civil War during the Reconstruction Era. Many white Southerners denounced them, fearing they would loot and plunder the defeated South and be politically allied with the Radical Republicans. Sixty men from the North, including educated free blacks and slaves who had escaped to the North and returned South after the war, were elected as Republicans to Congress. The majority of Republican