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Ornge Consolidated Financial Statements For the year ended March 31, 2020 (Expressed in thousands of Canadian dollars)Ornge Table of Contents For the year ended March 31, 2020Page Managements Responsibility

How to fill out consolidated financial statements

How to fill out consolidated financial statements

1. To fill out consolidated financial statements, follow these steps:
2. Gather all the financial statements of the subsidiary companies
3. Identify the subsidiaries that need to be included in the consolidated financial statements
4. Eliminate any intercompany transactions and balances between the subsidiaries
5. Combine the financial statements of the subsidiaries into one set of consolidated financial statements
6. Adjust for any non-controlling interests or minority shareholders' equity
7. Prepare the consolidated balance sheet, income statement, and cash flow statement
8. Disclose any significant accounting policies and consolidation methods used
9. Review and analyze the consolidated financial statements for accuracy and completeness
10. Obtain appropriate approvals and sign-off from management and auditors
11. Publish or distribute the consolidated financial statements to relevant stakeholders

Who needs consolidated financial statements?

1. Several entities and individuals may require consolidated financial statements, including:
2. - Shareholders or investors who need a comprehensive view of the group's financial performance and position
3. - Lenders or creditors who assess the group's creditworthiness and ability to repay debts
4. - Regulatory bodies or government agencies that monitor and regulate financial reporting
5. - Analysts or financial professionals who analyze the group's financial health and make investment recommendations
6. - Potential buyers or sellers of the group's business who evaluate its value
7. - Management or board of directors who use the statements to make informed decisions and track overall performance
8. - Employees or labor unions who assess the group's financial stability and bargaining power
9. - Competitors who compare their own performance with that of the group

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What is consolidated financial statements?

Consolidated financial statements are financial reports that combine the financial performance and position of a parent company with its subsidiaries, presenting them as a single entity.

Who is required to file consolidated financial statements?

Generally, publicly traded companies and groups that have control over other entities (subsidiaries) are required to file consolidated financial statements.

How to fill out consolidated financial statements?

To fill out consolidated financial statements, one must aggregate the financial data of the parent and its subsidiaries, eliminate intercompany transactions, and adhere to the relevant accounting standards.

What is the purpose of consolidated financial statements?

The purpose of consolidated financial statements is to provide stakeholders with a holistic view of the financial health and performance of a group of companies under common control.

What information must be reported on consolidated financial statements?

Consolidated financial statements must report the combined assets, liabilities, equity, revenues, expenses, and cash flows of the parent company and its subsidiaries.