If the statement is entitled "Consolidated Balance Sheets," what does it mean to have a consolidated balance sheet?© BrainMass Inc. brainmass.com June 3, 2020, 9:15 pm ad1c9bdddf
The combined Balance Sheets of a parent company and its subsidiaries.
Financial statements are prepared the same for the subsidiary as they are for the parent company. However, in addition, consolidated balance sheets are prepared. This is the combined financials statements of the parent company and all of its subsidiaries. The ...
The solution discusses what is meant to have a consolidates balance sheet.