Methods of consolidating subsidiaries

You can then proceed to eliminate some of the entries in the unit-specific financial statements that cannot be included in consolidated financial reports.

There are 16 references cited in this article, which can be found at the bottom of the page.

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Consolidated financial statements consist of the income statement, balance sheet and cash flow statements of a parent company and the subsidiaries under its ownership or administrative control.

When preparing consolidated financial statements, you must eliminate some entries to avoid duplicating or overstating financial data.

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