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Consolidated Financial Statement

   Also found in: Wikipedia 0.01 sec.
Consolidated financial statement
A financial statement that shows all the assets, liabilities, and operating accounts of a parent company and its subsidiaries.

Consolidated Financial Statement
A financial statement that combines the assets and liabilities of a parent company and its subsidiaries. A consolidated financial statement presents an aggregated picture of the whole corporation, rather than its individual parts.


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GAO-08-711R May 20, 2008 The Government Accountability Office (GAO) is required by the Government Management Reform Act of 1994 to audit the Consolidated Financial Statements of the U.
Additional time is needed for companies and their auditors to evaluate existing variable interest entities and determine which should be included in their consolidated financial statements, according to FASB.
The FASB believes that additional time is needed for companies and their auditors to complete the evaluation of existing variable interest entities and to determine which of those entities are required to be included in their consolidated financial statements.
 
 
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