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TANNER MEDICAL CENTER, INC. ___COMBINED FINANCIAL STATEMENTS for the years ended June 30, 2021 and 2020CONTENTS ___ Pages Independent Auditors Report12Combined Financial Statements: Balance Sheets34Statements
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Gather financial information for all individual entities that will be included in the combined financial statements.
02
Consolidate the financial information of each individual entity into a single set of financial statements.
03
Eliminate any intercompany transactions to avoid double counting of revenues or expenses.
04
Adjust for any differences in accounting policies or reporting dates between the individual entities.
05
Present the combined financial statements in a clear and cohesive manner, reflecting the overall financial position and performance of the group.

Who needs combined financial statements for?

01
Corporations with multiple subsidiary companies
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Businesses with significant ownership stakes in other entities
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Investors and stakeholders looking for a comprehensive view of a group's financial performance
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Combined financial statements are used to present the financial position and results of operations of two or more related entities as a single entity, allowing for a clearer understanding of the overall financial health.
Entities that are part of a group of related companies typically are required to file combined financial statements, including subsidiaries and affiliates that share financial control.
To fill out combined financial statements, allocate and summarize the financial data of each entity involved, ensure inter-company transactions are eliminated, and compile the collective financial results under prescribed accounting standards.
The purpose of combined financial statements is to provide stakeholders with a comprehensive view of the financial performance and position of multiple entities combined, which is useful for assessing liquidity, profitability, and overall financial stability.
Combined financial statements must report consolidated financial position, results of operations, cash flows, and notes including details about accounting policies, inter-company transactions, and grouped disclosures.
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