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Definition
Consolidated accounts represent a set of accounts that combines the financial results of a group of entities by combining the financial statements of separate legal entities controlled by a parent entity into one set of financial statements. The consolidated financial statement (CFS) is the result of consolidation.
Consolidated Accounts: Introduction
Consolidated accounts represent a set of accounts that combines the financial results of a group of entities, rather than showing the results of each entity separately. The consolidated financial statement (CFS) is the result of consolidation. It combines the financial statements of separate legal entities controlled by a parent entity into one set of financial statements for the entire group but does not substitute single entity financial statements.
Consolidated financial statement of a group shows the assets, liabilities, equity, income,...
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References
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Mori, E. (2016). Consolidated Accounts. In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_2292-1
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DOI: https://doi.org/10.1007/978-3-319-31816-5_2292-1
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