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Return of Private Foundation990PFFormOMB No. 15450047Department of the Treasury Internal Revenue ServiceNow calendar year 2021 or tax year beginning Employer identification numberDORIS DUKE CHARITABLE
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01
Gather the individual financial statements of all the related companies/entities.
02
Eliminate any intercompany transactions to avoid double counting of revenues and expenses.
03
Combine the financial statements of each related company/entity into a single consolidated financial statement.
04
Adjust the financial statements for any differences in accounting policies between the companies/entities.
05
Issue the consolidated financial statements to provide a comprehensive view of the financial position and performance of the group as a whole.

Who needs consolidated financial statements and?

01
Large corporations with subsidiaries or affiliates that operate in multiple locations or industries.
02
Investors and shareholders who want a complete picture of the financial health of the entire group rather than individual companies.
03
Regulatory bodies and tax authorities that require consolidated financial statements for compliance and reporting purposes.
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Consolidated financial statements combine the financial results of a parent company and its subsidiaries into a single report.
Companies that control or have a significant influence over other entities are required to file consolidated financial statements.
Consolidated financial statements are typically prepared using the financial information from the parent company and its subsidiaries. This information is then combined to create a comprehensive report.
The purpose of consolidated financial statements is to provide stakeholders with a complete picture of the financial position and performance of a group of related companies.
Consolidated financial statements typically include balance sheets, income statements, cash flow statements, and footnotes providing additional information.
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