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CONSOLIDATED FINANCIAL STATEMENTS OF THE O.T. MINING CORPORATION (A Development Stage Company) September 30, 2012, THE O.T. MINING CORPORATION (A Development Stage Company) TABLE OF CONTENTS AT September

How to fill out consolidated financial statements of

How to fill out consolidated financial statements:

1. Gather all relevant financial information: Start by collecting the financial statements of all subsidiaries and the parent company. This includes the balance sheets, income statements, and cash flow statements. Ensure that all financial statements follow the same accounting standards.
2. Eliminate intercompany transactions: Look for any transactions that occurred between the parent company and its subsidiaries. These transactions need to be eliminated to avoid double counting. For example, if one subsidiary owes money to another subsidiary, this amount should be cancelled out in the consolidated financial statements.
3. Adjust for non-controlling interests: If the parent company has less than 100% ownership of a subsidiary, the portion owned by other shareholders needs to be accounted for as non-controlling interests. Calculate the proportionate share of net assets, revenues, and expenses attributable to non-controlling interests.
4. Consolidate financial statements: Combine the financial statements of the parent company and its subsidiaries into a single set of consolidated financial statements. This can be done by adding together the respective balances of each line item from the individual financial statements.
5. Prepare supporting schedules: In addition to the consolidated financial statements, prepare supporting schedules that show the detailed calculations of how the consolidation was done. This helps to provide transparency and allow for easier review and analysis.

Who needs consolidated financial statements:

1. Regulatory bodies: Consolidated financial statements are often required by regulatory bodies to ensure transparency and proper financial reporting. These statements provide a comprehensive view of the financial performance and position of the entire corporate group.
2. Investors and shareholders: Investors and shareholders rely on consolidated financial statements to assess the overall financial health and performance of a company. These statements provide a consolidated view of the financial results and help in making informed investment decisions.
3. Creditors and lenders: Creditors and lenders use consolidated financial statements to evaluate the creditworthiness and financial stability of a company. These statements help to assess the company's ability to repay loans and meet its financial obligations.
4. Management and internal stakeholders: Management and internal stakeholders use consolidated financial statements to monitor and analyze the financial performance of the entire corporate group. These statements provide insights into the overall profitability, liquidity, and efficiency of the company's operations.

In conclusion, filling out consolidated financial statements requires gathering all relevant financial information, eliminating intercompany transactions, adjusting for non-controlling interests, consolidating the financial statements, and preparing supporting schedules. Consolidated financial statements are needed by regulatory bodies, investors, shareholders, creditors, lenders, management, and internal stakeholders to assess the financial performance and position of the entire corporate group.

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What is consolidated financial statements of?

Consolidated financial statements combine the financial results of multiple entities into a single set of financial statements.

Who is required to file consolidated financial statements of?

Companies that own or control other entities and meet specific criteria are required to file consolidated financial statements.

How to fill out consolidated financial statements of?

Consolidated financial statements are typically prepared by combining the financial information of the parent company and its subsidiaries.

What is the purpose of consolidated financial statements of?

The purpose of consolidated financial statements is to provide a comprehensive view of the financial performance and position of a group of entities.

What information must be reported on consolidated financial statements of?

Consolidated financial statements must include the financial results of the parent company and its subsidiaries, along with any necessary adjustments.

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