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What are the combined financial statement of a parent company and its subsidiaries is what?
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What is a consolidated financial statement?
it is combined statement of parent company and subsidary company
What is the difference between consolidated and parent entities?
The main difference between consolidated and parent entities is that consolidated financial statements show the activities of the parent company and all of its subsidiaries. A stand alone, or parent financial statement, treats each subsidiary as a a separate entity.
What financial statement is most likely to provide information about a company's ability to repay debt?
Statement of financial position (Balance sheet)
What is the difference between balance sheet and financial statement if there is any........?
Balance Sheet: Balance sheet is the financial picture of an organization on a given day. while financial statement is a broader term and it can be for a very long time. financial statment is a formal record of business financial activities. it can be a day. month a year or so on. while balance sheet is just a part of a financial statement. in short balance sheet is also a finanaical statement. but finanacial statement can not be balance sheet..
What financial statement is concerned with the company at a point in time?
This relates to a company's balance sheet (aka statement of financial position). The balance sheet provides, in essence, a "snapshot" of a company at a point in time. This differs from a statement of cash flows, or an income statement, both of which essentially show the events or transactions of a company that occurred during a certain period of time.
A combined financial statement of a parent company and its subsidiaries is called?
a consolidated financial statement
What is a consolidated financial statement?
it is combined statement of parent company and subsidary company
A combined statement of a parent company and its subsidiary is called?
a consolidated financial statement
What is the difference between group financial statements and company financial statements?
group is multiple you see. EDIT: Often an organisation will release both a group statement and a company statement. Group refers to the company in question and all its subsidiary holdings. This is because users of financial statements might want to know how the companies "core" operations are going as opposed to looking at the group statement which could have profits boosted by a different operation etc. Edit2: There is only a difference between the two statements for firms that hold shares in subsidiaries. A subsidiary is a company that the parent company has control over, usually (but not necessarily) when the parents holds more than 50% of the shares. In the company statements a financial interest in a subsidiary is shown as a line item ('subsidiaries') on the balance sheet. Depending on the valuation method used, dividends received or a profit share can be included in the income statement. (depending whether the cost method or equity method is used) In the group financial statement (also called consolidated financial statement) the item subsidiaries is no longer included. Instead, the underlying assets and liabilities of the subsidiaries are shown. Similarly for the income statement, the subsidiaries expenses and revenues are included. The group statements are usually informative, while the company statements provide little information. For example, the balance sheet of a listed company which is a holding company will have subsidiaries as its main asset (hence a single item as its assets). The consolidated balance sheet will show the actual assets (PPE, inventories, cash, etc) of the various subsidiaries. (Same principle for income statement).
What is a unconsolidated balance sheet?
When there is parent subsidiary relationship exists and in that case if separate financial statements are prepared by both parent and subsidiary company those statements are called unconsolidated statements.
What is a Statutory financial statement?
A statutory financial statement is a financial statement of an insurance company prepared in accordance with statutory accounting standards.
What is the difference between consolidated and parent entities?
The main difference between consolidated and parent entities is that consolidated financial statements show the activities of the parent company and all of its subsidiaries. A stand alone, or parent financial statement, treats each subsidiary as a a separate entity.
What is the difference between consolidated and parent company statements?
Comparative financial statements compares one set of financial statement with another set of financial statements while consolidated financial statement is prepared where in company there is parent and child company relationship exists to join the financial statements of parent and child company as a single financial statements.
What is the difference between a consolidated and non-consolidated balance sheet?
It is very simple: consolidated financial data: One a parent company posts/files its combined financials that is parent's data as well as subsidiaries data collectively (Summed) that is Consolidated Financials. Non/Un-Consolidated Financials: When Parent company posts/files its financials separately that is stand alone financials of parent and side by side its subsidiaries data.
What is meant by consolidated profit and loss?
When there is a parent and subsidiary companies exists in that situation the combined financial information of parent company as well as subsidiary companies are shown under one statment which are called consolidated financial statements so in consolidated profit and loss account combined information of both parent and subsidiaries shown together rather preparing separate statements.
What is meant by profit and loss?
When there is a parent and subsidiary companies exists in that situation the combined financial information of parent company as well as subsidiary companies are shown under one statment which are called consolidated financial statements so in consolidated profit and loss account combined information of both parent and subsidiaries shown together rather preparing separate statements.
Describe a balance sheet income statement retained earnings statement and statement of cash flows How does a company use these financial sta?
To check on the financial position of the company eg: payables and receiveables
