What is mean by consolidation

Question

Accepted Answer

Consolidation refers to the process of combining or merging multiple entities into a single entity.

Consolidation involves bringing together separate elements or entities to form a unified whole.
It can refer to financial consolidation, where the financial statements of multiple companies are combined into one.
Consolidation can also be used in the context of data consolidation, where data from different sources is integrated into a single database.
In the context of organizations, consolidation may involve merging departments or teams to streamline operations.
Examples of consolidation include mergers and acquisitions, creating a consolidated balance sheet, or consolidating data from various sources into a data warehouse.

Accepted Answer

In Indas it is the process of clubbing all subsidiaries accounts with parents accounts after eliminating intragroup sales. It gives an output of following reports

Consolidated profit and loss statement
Consolidated Balance sheet
Consolidated cash flow statement

What is mean by consolidation

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