Consolidated financial statement


Consolidated financial statement
Accountancy
Key concepts
Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts · Journal  · Special journals · Constant Item Purchasing Power Accounting · Cost of goods sold · Credit terms · Debits and credits · Double-entry system · Mark-to-market accounting · FIFO & LIFO · GAAP / IFRS · General ledger · Goodwill · Historical cost · Matching principle · Revenue recognition · Trial balance
Fields of accounting
Cost · Financial · Forensic · Fund · Management · Tax
Financial statements
Statement of financial position · Statement of cash flows · Statement of changes in equity · Statement of comprehensive income · Notes · MD&A · XBRL
Auditing
Auditor's report · Financial audit · GAAS / ISA · Internal audit · Sarbanes–Oxley Act
Accounting qualifications
CA · CPA · CCA · CGA · CMA · CAT · CFA  · CIIA  · ACCA  · CIA  · CTP · ICAEW · CIMA  · IPA  · ICAN
This box: view · talk · edit

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



Wikimedia Foundation. 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

  • financial statement — Any report summarizing the financial condition or financial results of a person or organization on any date or for any period. Financial statements include the balance sheet and the income statement and sometimes the statement of changes in… …   Black's law dictionary

  • financial statement — Any report summarizing the financial condition or financial results of a person or organization on any date or for any period. Financial statements include the balance sheet and the income statement and sometimes the statement of changes in… …   Black's law dictionary

  • combined financial statement — A financial statement that merges the assets, liabilities ( liability), net worth, and operating figures of two or more affiliated companies. A combined statement is distinguished from a consolidated financial statement of a company and… …   Financial and business terms

  • statement — Also receipt Euroclear Clearing and Settlement glossary A detailed summary of an account. Euroclear Clearing and Settlement glossary See deposit receipt, withdrawal receipt. Euroclear Clearing and Settlement glossary * * * statement state‧ment… …   Financial and business terms

  • consolidated tax returns — A procedure whereby certain affiliated corporations may file a single return, combine the tax transactions of each corporation, and arrive at a single income tax liability for the group. The election to file a consolidated return is usually… …   Black's law dictionary

  • consolidated tax returns — A procedure whereby certain affiliated corporations may file a single return, combine the tax transactions of each corporation, and arrive at a single income tax liability for the group. The election to file a consolidated return is usually… …   Black's law dictionary

  • Consolidated —   In finance this normally means: According to the Dutch Act on Annual Accounts of Enterprises incorporated in the Dutch Civil a consolidated financial account is described as: The consolidated financial account is a statement in which the assets …   International financial encyclopaedia

  • Financial Sanctions Unit — The Financial Sanctions Unit ( [http://www.bankofengland.co.uk/publications/financialsanctions/index.htm official webpage] ) of the Bank of England administers financial sanctions in the United Kingdom on behalf of HM Treasury. It has been in… …   Wikipedia