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PREMIER DIAGNOSTIC HEALTH SERVICES INC. CONSOLIDATED FINANCIAL STATEMENTS (Expressed in Canadian Dollars) FOR THE YEARS ENDED SEPTEMBER 30, 2013, AND 2012 Index Page CONSOLIDATED FINANCIAL STATEMENTS

How to fill out consolidated financial statements expressed

How to fill out consolidated financial statements expressed:

1. Gather all relevant financial information: Start by collecting the financial statements of all the subsidiaries and the parent company. This includes balance sheets, income statements, cash flow statements, and footnotes.
2. Eliminate intercompany transactions: Identify any transactions between the subsidiaries and the parent company and eliminate them. This ensures that the consolidated financial statements only reflect transactions with external parties.
3. Adjust for differences in accounting policies: Standardize the accounting policies used by each subsidiary to ensure consistency in the consolidated financial statements. Make any necessary adjustments to align the policies with those of the parent company.
4. Calculate non-controlling interest: If the parent company does not own 100% of a subsidiary, calculate the non-controlling interest's share of the subsidiary's net assets and include it in the consolidated financial statements.
5. Summarize the financial information: Add up the balance sheet items, income statement items, and cash flow items from each subsidiary and the parent company. Combine them to create consolidated financial statements.
6. Disclose additional information: Include any required disclosures and footnotes to the consolidated financial statements. This provides additional details about significant accounting policies, contingencies, and other relevant information.

Who needs consolidated financial statements expressed:

1. Investors: Consolidated financial statements provide a comprehensive view of a company's financial performance and position. Investors use these statements to analyze the overall health and profitability of a business group, which helps them make informed investment decisions.
2. Creditors and lenders: Creditors and lenders need consolidated financial statements to assess the creditworthiness and financial stability of a company. It helps them evaluate the group's ability to repay debts and make interest payments.
3. Regulatory authorities: Regulatory bodies often require companies to submit consolidated financial statements to ensure compliance with accounting standards and regulations. These statements help regulators monitor financial activities, detect potential fraud or mismanagement, and maintain transparency in the market.
4. Potential business partners: When exploring partnerships or mergers, companies may request consolidated financial statements from potential business partners to evaluate their financial standing, performance, and potential synergies.
5. Internal management: Companies use consolidated financial statements to gain insight into the overall financial health of the business group. This information guides strategic decision-making, resource allocation, and performance evaluation at the organizational level.

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What is consolidated financial statements expressed?

Consolidated financial statements combine the financial statements of a parent company and its subsidiaries into one single set of financial statements.

Who is required to file consolidated financial statements expressed?

Companies that have subsidiaries are required to file consolidated financial statements expressed.

How to fill out consolidated financial statements expressed?

Consolidated financial statements are typically prepared by combining the financial data of the parent company and its subsidiaries using a consolidation worksheet.

What is the purpose of consolidated financial statements expressed?

The purpose of consolidated financial statements is to provide a comprehensive view of the financial position and performance of a group of companies as a single entity.

What information must be reported on consolidated financial statements expressed?

Consolidated financial statements must include the financial data of the parent company and its subsidiaries, presented as if they were a single entity.