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 Scalawag was a derogatory term used by recalcitrant white southerners after the Civil War and during the dozen years of Reconstruction (1865 â 1877). It was applied to those white southerners who cooperated with the Union troops and with the Reconstruction State legislatures.