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.
For the most part, it was the carpetbaggers who were the dominant factor in the Deep South, where the black vote would have outnumbered the white, while the scalawags were influential in the Upper South. Both the scalawags and the carpetbaggers were resented by many Southerners and became the targets of the Ku Klux Klan.