consolidated accounts


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consolidated accounts

the aggregate accounts of a group of companies. A consolidated BALANCE SHEET is compiled by adding the assets and LIABILITIES of all companies in the group, after making allowance for any amounts that companiesin the group owe to one another. A consolidated PROFIT-AND-LOSS ACCOUNT is prepared by adding the SALES REVENUES and COSTS of all companies in the group, after deducting the effects of any sales between companies within the group. The claims of any MINORITY INTERESTS in group assets and profits must also be allowed for.

Preparation of consolidated accounts for a MULTINATIONAL ENTERPRISE with subsidiary companies in several countries is complicated by the need to translate the accounts of these subsidiaries, expressed in terms of their local currencies, into the domestic currency of the parent company (see FOREIGN CURRENCY TRANSLATION, EXCHANGE RATE EXPOSURE). See HOLDING COMPANY.

References in periodicals archive ?
We have to consider that the regulatory texts on the consolidation, offer the companies a large number of options, comparable to the regulations on the annual accounts, a generosity that raises great difficulties to the financial analysts and to the external users of the consolidated accounts if they are not accompanied by a series of mandatory information on the accounting choices made by the group.
We need to allocate the amount paid for the shares in River to its identifiable net assets in the consolidated accounts. We do this based on their fair values at the date of acquisition.
A centerpiece will be the Eighth Company Law Directive that will clarify the duties of statutory auditors, their independence and ethics, and introduce the full responsibility of the group auditor for the audit of consolidated accounts of groups of companies.
Although the Government has decided to give unlisted companies the option of whether to use these standards in their annual and consolidated accounts from 2005, it does not mean smaller firms can afford to ignore IAS, according to the Institute of Chartered Accountants in England and Wales (ICAEW).
The partial hive-off of Consol will have an impact on the German group's consolidated accounts of reducing its balance-sheet debt figure by Euro 500 million, and its provisions by Euro 3.1 billion.
One example highlighting the importance of such an approach would be using consolidated accounts after the elimination of intercompany transactions as a common tax base.
Since the new company will be a subsidiary of UFJ and be reflected in consolidated accounts, the issuance of preferred stock will work to boost the bank's regulatory capital ratio.
In shareholder meetings, the only set of accounts of actual relevance and the subject of the debate are the consolidated accounts. To not do it this way would have introduced quite some complexities in a far-flung organization like ours.
The company's consolidated accounts also increased 4% to $233.3 million ([yen]27.2 billion).
The implementation date for a planned corporate tax revision on consolidated accounts is unlikely to be specified in a report about fiscal 2001 tax reforms to be compiled in December, the head of a Tax Commission subcommittee said Tuesday.
Users may access all or part of a report, and reports more than 25 pages are accessible by specific sections according to subjects such as Letter of the Chairman, Financial Highlights, Consolidated Accounts, and more.
Accounting Standards Board, AASB 1024, Consolidated Accounts, paragraph 9, defines control as: "The capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in pursuing the objectives of the controlling entity." It also says "capacity means ability or power, whether direct or indirect, and includes ability or power that is presently exercisable as a result of, in breach of, or by revocation of, any of or any combination of the following: (a) trusts; (b) relevant agreements; and (c) practices; whether or not enforceable"

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