Multi-company to a single company

[Chris.Neely@xxxxxxxxxx]

All,

I have come across the following statement concerning whether or not we 
would need to have separate financial divisions(companies) in IFM. The 
statements come from a book I have on IFM written by Bob Tenney. Can 
anyone confirm if this statement is still valid?

There are two simple tests that tell you if you must have a separate 
financial division for an organization within your business: 

Are you required to produce a balance sheet for the organization? For 
example:
 
        If you set up an organization as a separate legal entity, you will 
be required to prepare balance sheets for it. Therefore, you must record 
its activity in a       separate financial division.


Does the organization keep its books in a currency that is different from 
other organizations in your business? For example:

        Suppose you have sales offices in New York, Los Angeles, and 
Toronto. Since Canadian authorities will insist that you keep your fiscal 
records in              Canadian dollars, you must have a separate 
financial division for your Toronto sales office.



Thanks for any assistance.