Consolidated accounts are financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as if the entire group were a single entity.
A consolidated profit and loss account (also known as a consolidated income statement) combines the individual profit and loss accounts of group entities, presenting a comprehensive view of the group's financial performance.
Adjustments made in the process of consolidating the accounts of a group of organizations, ensuring the elimination of intra-group transactions' profits or losses from consolidated financial statements.
The term 'merge' has dual meanings in both data management and corporate finance. In the context of data management, merging refers to combining multiple lists or files by consolidating duplicate records into single records. In corporate finance, merging refers to the financial consolidation of two companies where only one company survives as a legal entity.
Multilateral netting is a method of reducing transaction costs within a corporate group or among multiple parties by centralizing and consolidating intercompany transactions to a single net payment or receipt for each subsidiary.
