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.
Scalawags were Southerners who joined with former slaves to support the Republicans party during Reconstruction after the Civil War. Carpetbaggers were Northerners who wentâ¦ to the South after the Civil War for political or financial advantage. Both supported black rights, were disliked by many white former-slave owners, and they were victims of attacks from the Ku Klux Klan.