Consolidated acccounts-group accounts, Financial Accounting

Consolidated acccounts

1AS 27 therefore requires that the holding a company should include the financial results of the subsidiary company in its own financial statements. The process involves adding the assets, liabilities and incomes and expenses of the subsidiary company to those of the holding company while excluding inter-company transactions and balances. This process is called consolidation and the combined financial statements are called Group accounts or consolidated accounts.

1AS 27/IAS 1 requires the holding company to present the following in its published financial statements.

  • A consolidated income statements
  • A consolidated statement of changes in equity
  • A consolidated balance sheet
  • A consolidated   cash flow accounts
  • Group notes to the accounts.


1AS 27 also requires the holding company to present its own financial statements separately ie excluding the subsidiary company.

Posted Date: 12/12/2012 2:23:28 AM | Location : United States

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