Can anyone identify the first necessary condition before consolidated financial statements are prepared?
2007-01-25 08:56:28 · 4 answers · asked by Munch_101 1 in Business & Finance ➔ Other - Business & Finance
prepare individual accounts first
2007-02-02 04:25:13 · answer #1 · answered by keentoknow 2 · 1⤊ 0⤋
The Consolidated Financial Statements Must Be Refered To Entities That Actually Exist.
2007-02-02 13:15:21 · answer #2 · answered by Spaghetti MY 5 · 0⤊ 0⤋
Well, consolidated financial statements are the combined financial statements of a parent company and its subsidiaries. One would think that you needed the balance sheet, income statement, statement of cash flows, etc., completed first for both the parent company and its subsidiaries.
But, this is a loaded question because there are many more things that go on with this type of reporting:
http://www.dummies.com/WileyCDA/DummiesArticle/id-2840.html
2007-02-01 19:19:29 · answer #3 · answered by mktgurl 4 · 0⤊ 0⤋
no
2007-01-25 17:04:05 · answer #4 · answered by the man 3 · 0⤊ 1⤋