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What the different between Consolidated financial reports and company financial reports?
Wiki User
∙ 13y ago
BEST ANSWER: Consolidated financial report: Written to someone with authority (e.g. manager, boss, director, public official, etc.) or peer (e.g. colleauge, associate, classmate, etc.) 2. Usually formal in register 3. Writer uses language related with expressing opinion, listing reasons, making recommendations 4. Written to people who can take action or affect outcome.
Company financial report: Written to someone who needs to make a decision usually which involves spending or investing money (e.g. a client or customer, a committee, someone responsible for finances within company or organization, etc.) 2. Usually formal in register, but could also be semi-formal when addressed to a committee of peers 3. Writer uses language in such a way that he is persuasive, besides listing reasons and making suggestions 4. Written to someone whose decision will directly benefit the writer in some way (e.g. writer is a salesperson)or a group writer belongs to (e.g. a local amateur athletic team that needs support).
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∙ 13y ago
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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 a consolidated financial statement?
it is combined statement of parent company and subsidary company
What is a parent company account?
Parent company account is the parent's company in consolidated financial statments where parent and child relationship exists in group accounting.
Financial statements and consolidated financial statements?
Consolidated financial statements are financial statements that present the assets, liabilities, equity, income, expenses and cash flows of a parent and its subsidiaries as those of a single economic entity. visit page: cndhearingsolution .co.nz/ear-suction
What is consolidating financial statements?
hen a large company acquire one or more small companies then acquiring company is called the parent company and acquired companies are called subsidiary companies so when the financial statements of parent company and subsidiary companies are prepared in one financial statement altogether those financial statements are called consolidated financial statements.
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 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 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 a consolidated financial statement?
it is combined statement of parent company and subsidary company
A combined financial statement of a parent company and its subsidiaries is called?
a consolidated financial statement
What is the g0al of a consolidated balance sheet?
1. Goal of consolidated financial statement is to combine the financial statement of parent as well as child companies as a one set of financial statement to show the overall performance of company rather showing separate financial statements for every company.
A combined statement of a parent company and its subsidiary is called?
a consolidated financial statement
Difference between balance sheet and consolidated balance sheet?
Simple balance sheet provides information of one single company only while consolidated balance sheet provides the information of parent as well as child company as a single financial statement.
How do consolidated financial statement differ from the financial of a single company?
Because consolidation is consolidation (meaning more than one company), the parent or majority company (50.01%) must integrate the financial details of the subsidiary company with its own. Often times the subsidiary has its own statement. This is very complex and takes time to explain. There are new rules for this and is discussed in Advanced Accounting courses. One must note that even if consolidated some of these companies are still publicly traded and managed by others not under the thumb of the parent company.
What is a parent company account?
Parent company account is the parent's company in consolidated financial statments where parent and child relationship exists in group accounting.
Difference between standalone and consolidated results?
Consolidated results include the results of subsidiaries of a company.Thus Consolidated results give a better picture of value of a company.
Financial statements and consolidated financial statements?
Consolidated financial statements are financial statements that present the assets, liabilities, equity, income, expenses and cash flows of a parent and its subsidiaries as those of a single economic entity. visit page: cndhearingsolution .co.nz/ear-suction
