Hi everyone, I’m currently pursuing the Chartered Accountant course in India and I’m having a doubt regarding consolidated financial statements. Can someone please help me understand the concept and provide some examples? Thanks in advance!
Consolidated financial statements are prepared when a company controls one or more other companies. They help to present a comprehensive view of the financial position and performance of the entire group. For example, if Company A owns 80% of Company B, then Company A will prepare consolidated financial statements that include the financial information of Company B as well. Hope that helps!
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