Consolidated Financial Statements
/kənˈsɒlɪdeɪtɪd fəˈnænʃəl ˈsteɪtmənts/
Definitions
- (n.) Financial statements that aggregate the financial information of a parent company and its subsidiaries into a single set of documents reflecting the group's overall financial status.
The company issued consolidated financial statements to provide an overview of its entire corporate group’s financial health.
Forms
- consolidated financial statements
- consolidated financial statement
Related terms
See also
Commentary
Consolidated financial statements are crucial for transparency in corporate group reporting and are governed by specific accounting standards; drafters should ensure clarity on the group entities included.
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