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Consolidated income statement shows the overall performance of one year by parent company as well as child company in group of companies accounting.
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Consolidated income statement?
Consolidated income statement is that statement in which expenses and incomes of subsidiary as well as parents companies shown as a joint in one single income statement.
How will you entry income from subsidiary in income statement?
When there is a parent child relation available then consolidated income statement is prepared in which expenses and income of parent and subsidiary are shown in one single financial statement due to which net profit or loss for whole organization is shown.
What is consolidated operating income?
Where any company holds more then 50% shares in any other company then that company holding more then 50% shares is called "PARENT COMPANY" while the company whose shares are hold by the parent company is called "Subsidiary company"So where there is a parent and subsidiary relationship is exists then it is the requirement of parent company to show the interest in subsidiary company as well as results of it's own operations in one single statement or document which is called "Consolidated Financial Statement" and Consolidated income statement is prepared to show the consolidated income of parent as well as subsidiary company together to show the combine interest of parent in all subsidiaries as well.Example:Company A holds 100% shares of company B and company B has operating income of $ 1000 and company A has income of $10000.SoConsolidated Operating income = $11000If company A holds 60% interest thenConsolidated operating income = 10000 + 600 = $10600$ 600 is the 60% share of income of Company B.
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
A combined financial statement of a parent company and its subsidiaries is called?
a consolidated financial statement
How do you do Income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
How do you prepare comparative income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
What are the two categories of the income statement?
Following are two catagories of income statement: 1- Single Step Income statement 2- Multy-step income statement
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
What is a projected income statement?
projected income statement is the estimated income statement to estimate the future business position.
Provide sample notes that accompany consolidated financial statement?
provide sample accountant accompanying notes to consolidated financial statements
