Consolidated financial statement
- Consolidated financial statement
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Consolidated financial statements are financial statements that factor the holding company's subsidiaries into its aggregated accounting figure. It is a representation of how the holding company is doing as a group. The consolidated accounts should provide a true and fair view of the financial and operating conditions of the group. Doing so typically requires a complex set of eliminating and consolidating entries to work back from individual financial statements to a group financial statement that is an accurate representation of operations.
Where Australia is concerned : You should refer to the newly drafted ED 10 which has been introduced by the AASB in November 2008.
See also
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2010.
Look at other dictionaries:
consolidated financial statement — A financial statement that shows all the assets, liabilities ( liability), and operating accounts of a parent company and its subsidiaries ( subsidiary). Bloomberg Financial Dictionary * * * consolidated financial statement UK US noun [C] ► … Financial and business terms
Consolidated financial statements — are financial statements that factor the holding company s subsidiaries into its aggregated accounting figure. It is a representation of how the holding company is doing as a group. The consolidated accounts should provide a true and fair view of … Wikipedia
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