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Financial Institution Letter
FIL32018
January 4, 2018Federal Deposit Insurance Corporation
550 17th Street, NW, Washington, D.C. 204299990CONSOLIDATED REPORTS OF CONDITION AND INCOME
Summary: The
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What is summary form consolidated reports?
Summary form consolidated reports are a compilation of financial information from multiple entities within a group, presenting a consolidated view of the group's overall financial position.
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Companies or organizations that have multiple entities under their control or ownership are required to file summary form consolidated reports.
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Summary form consolidated reports are typically prepared by consolidating the financial statements of each entity within the group, ensuring that the figures are accurately combined to reflect the group's financial position.
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The purpose of summary form consolidated reports is to provide stakeholders with a comprehensive view of the group's financial performance and position by combining the financial information of all entities within the group.
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Summary form consolidated reports must include financial information such as balance sheets, income statements, cash flow statements, and any other relevant financial data from each entity within the group.
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