Difference between financial statement and consolidated financial statement?

Situational Differences The steps involved in creating combined or consolidated financial statements are basically the same. One major difference between combined financial statements and...

Consolidated f/s like combined f/s sum up the reporting entities or subsidiaries transactions into a total. The difference is that consolidated f/s will eliminate transactions where subsidiary...

group is multiple you see.EDIT: Often an organisation will release both a group statement and a company statement. Group refers to the company in question and all its subsidiary holdings. This is...

"Abridged" is more condensed, while "detailed" is just as it implies - detailed, with all financial details, facts and figures included.

Combining financial statements could be a disadvantage because you cannot see the details that give you the strengths of the company. If you have separate financial statements for the parent and...