Consolidated Financial Statement

Consolidated financial statement refers to the combined financial statement of the parent company as well as its subsidiaries. It is usually prepared by the auditor of the company, and is extremely useful for understanding the financial performance of the company. It should be very carefully constructed, and the individual financial statement and the financial statements of the group, should be minutely tallied and prepared.

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Sample Consolidated Financial Statement:

Consolidated Financial Statement

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GKB Clothing House’s consolidated financial statement for the term January 2010 to January 2011.

Name of the parent company: GKB Clothing House Pvt. Ltd.

Statement prepared by: Mr. David Watson, Certified Public Accountant.

Purpose: This consolidated financial statement is prepared to test the financial position of the parent company and its subsidiaries, and to get a suitable report from the auditor.

2010-2011

Revenue 11,323,202

Sales cost                                                                                                              -8,202,887

Gross profit 312031

Operating income                                                                                                         69987

Other operating income                                                                                             236,997

Interest expenses                                                                                                           -2769

Profit from operations 304,215

Share of associate’s profits                                                                                         58,004

Finance income                                                                                                           43,977

Costs of finance                                                                                                          -11021

Total profit before taxes 90960

Expenses of income tax                                                                                           -116,989

Profit for the term from continuing operations 665,989

Operations those are discontinued                                                                           -221,748

Total profit for the term 887,549

Amount attributed to:

Subsidiary companies                                                                                               110,200

Loan firms                                                                                                                     1200

Diluted Earnings                                                                                                            8990

*all figures are in US Dollar ($)

**Source: audited statements.

__________________                                                     ________________________

(Signature of auditor)                                                       (Signature of finance manager)

It is to be noted that the consolidated financial statement of the company is audited, and the reports are prepared accordingly. A report is attached herewith, for the perusal of the finance manager.

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