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.
Consolidated financial statements combine the financial records of a group of companies, providing a comprehensive view of the entire group's financial situation.
A consolidated income and expenditure account amalgamates the financial information from individual income and expenditure accounts of a group of organizations into a single, comprehensive financial document, adjusted for any necessary consolidation adjustments.
Dominant influence refers to the power exerted over a company to control its operating and financial policies, potentially treating it as a subsidiary within group accounts.
Group accounts, also known as group financial statements or consolidated financial statements, provide a comprehensive overview of the financial status of a parent company and its subsidiaries.
Proportional consolidation is a method used in group accounts for subsidiaries that are not fully owned, including a proportionate share of each category of a joint venture in revenues, expenditures, assets, and liabilities line by line. This method contrasts with the equity method and has been a topic of much debate.
