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.
Carpetbaggers was the term applied to Northerners who moved south, to build industries and influence the political changes caused by freeing the slave population. The Southeâ¦rn legislatures were required to ratify the 13th Amendment in order to regain representation in Congress.