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What is Consolidated Statement?
Consolidated statement of consolidated financial statement is a financial statement made at the end of every year calculating the assets, liabilities, income, equity, expenses and the cash flows of a particular business set up and itâ€™s other subsidiary companies, if any.
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Is Consolidated Statement Important?
All types of business set-upsâ€”small or largeâ€”needs to have a consolidated statement made for it helps them to analyze their position in the market and chart their prospective progression for the next year. So, needless to say, a proper consolidated statement is indeed mandatory in every business enterprise.
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