Consolidated Statement Presentation
Presentation Requirements
The consolidated balance sheet, income statement, statement of comprehensive income, statement of cash flows, and statement of changes in equity present the parent and subsidiaries as one reporting entity.
- Assets and liabilities combined.
- Revenues and expenses combined.
- Cash flows combined.
- NCI presented separately within equity.
Tip
Remember that consolidated retained earnings generally equal the parent's retained earnings after consolidation adjustments.
Summary
Consolidated statements provide users with information about the entire corporate group rather than individual legal entities.