Consolidated Statement

A consolidated financial statement is a financial report that summarizes the financial results of a group of companies or organizations that are affiliated through a parent company, usually a holding company. This statement combines the financial results of all the companies within the group into a single report, providing a comprehensive view of the group's financial performance.

Consolidated financial statements are typically prepared when a parent company has a controlling interest in one or more subsidiaries. The parent company is required to combine the financial results of all its subsidiaries into a single report, which includes the parent company's own financial results as well.

The purpose of a consolidated statement is to provide investors, stakeholders, and other interested parties with a complete view of the financial performance of the entire group, rather than just the performance of individual companies within the group. This can help to provide a more accurate picture of the group's financial health and performance, and can also help to identify areas where improvements can be made.

Consolidated financial statements typically include a balance sheet, income statement, and cash flow statement, as well as detailed notes and disclosures that provide additional information about the group's financial position and performance. These statements are usually prepared in accordance with generally accepted accounting principles (GAAP) or international financial reporting standards (IFRS).

Overall, consolidated financial statements provide a comprehensive and detailed view of the financial performance of a group of companies, which can be useful for investors, analysts, and other stakeholders who need to evaluate the overall financial health of the group.