Combining and consolidating financial statements

04-Dec-2019 20:08

combining and consolidating financial statements-29

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While the subsidiaries operate separately from the parent company, a consolidated financial statement reports on the enterprise as a whole, with the parent company and subsidiaries together making up the financial picture of the entity.An investor, or potential investor, can look at a consolidated financial statement and see that the combined entity is financially sound.Combined financial statements are generally easier to prepare than consolidated financial statements.The benefit to investors or potential investors is that they can see how each company—parent and subsidiaries, which may include corporations, LLCs, or both—is doing.If you are an owner of a parent corporation, it's important to understand your corporation's options when it comes to financial statements and reporting.

A consolidated financial statement takes the financial results of the subsidiaries and includes them in a single financial statement for the parent company, as if the parent company and the subsidiaries were one entity.The rationale behind this requirement is that because these companies are all operating together as a single enterprise they should report their results as though they were a single entity.

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