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What are the combined financial statement of a parent company and its subsidiaries is what?
The combined financial statements of a parent company and its subsidiaries are known as consolidated financial statements. These statements present the financial position and results of operations of the entire corporate group as a single entity, eliminating intercompany transactions and balances to provide a clear view of the group's overall financial health. Consolidated financial statements typically include a consolidated balance sheet, income statement, and cash flow statement. They are essential for stakeholders to assess the performance and financial stability of the parent company and its subsidiaries collectively.
Is a cash flow statement part of a financial statement?
Yes cash flow statement is part of financial statements and mandatory to provide along with income statement and balance sheet.
What financial statement is most likely to provide information about a company's ability to repay debt?
Statement of financial position (Balance sheet)
What financial statement is most likely to provide information about a company ability to repay debt?
Statement of financial position (Balance sheet)
Which financial statement would provide best information to answer banker's questions?
balance sheet
How do you use statement in a sentence?
A statement is a sentence that conveys information or opinion. In writing, you can use a statement to make a point or provide a fact. For example, "Her statement about the company's financial situation was concerning."
How income statement related to the statement of financial position?
The income statement and the statement of financial position (balance sheet) are interconnected financial statements that provide insights into a company's performance and financial health. The income statement summarizes revenues and expenses over a specific period, resulting in net income or loss, which is then reflected in the equity section of the statement of financial position. This net income contributes to retained earnings, impacting the overall equity and asset liabilities of the company. Together, they offer a comprehensive view of a company's profitability and its financial standing at a specific point in time.
What was used to accompany 'silent' films?
A pianist would provide music to accompany the film .
What service does Consolidated Communications provide?
Consolidated Communications provide services to individuals and businesses for internet, television and phone. They provide high speed internet and TV packages with many channels.
What is the role of an auditor in terms of the financial statement?
External Auditor has the role to materially evaluate the financial statements and provide his opinion that 'Does financial statements reflects true and fair activities of business' or not.
How are financial statements (the income statement statement of retained earnings balance sheet and statement of cash flows) are interrelated. Provide at least two examples.?
Financial statements are interrelated as they collectively provide a comprehensive view of a company's financial health. For instance, net income from the income statement flows into the statement of retained earnings, affecting the total retained earnings reported on the balance sheet. Additionally, changes in cash reported in the statement of cash flows are reflected in the cash account on the balance sheet, demonstrating how operational activities influence overall liquidity.
Which financial statement would provide the best information to know the amount of the business's owner equity?
balance sheet
