Consolidating financial statements equity

All of the subsidiary company's assets and liabilities appear on the parent company's balance sheet, and all of the subsidiary company's revenue, expenses, gains and losses appear on the parent company's income statement.

The companies' financial results, therefore, are consolidated on a single set of statements.

If an entity owns 100% of another entity it will usually have control.

The balance sheet provides an overview of assets, liabilities and stockholders' equity as a snapshot in time.

The date at the top of the balance sheet tells you when the snapshot was taken, which is generally the end of the fiscal year.

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Annual Report; Audits, External; Balance Sheets; Cash Flow Statements; Income Statements Financial statements are written records of a business's financial situation.

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