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Abandonment Funding Reporting Form For the Year Ended December 31, 2016 Update on Abandonment Funding for Pipeline with Trust Regulatory Instrument Holder (entity which holds Foothills Pipe Lines
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Gather all necessary financial information from the individual entities included in the consolidation.
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Eliminate intercompany transactions to avoid double counting of assets and liabilities.
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Adjust for any differences in accounting methods used by the individual entities.
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Prepare the consolidated financial statements using the total assets, liabilities, equity, income, and expenses of all entities included.
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Who needs form consolidated financial statements?

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Publicly traded companies that have subsidiaries or other entities that need to be included in their financial reporting.
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Large private companies with multiple business units or subsidiaries.
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Form consolidated financial statements refers to financial reports that combine the financials of a parent company with its subsidiaries, providing a comprehensive overview of the entire corporate group.
Typically, publicly traded companies and certain large private companies that have subsidiaries are required to file consolidated financial statements.
Filling out form consolidated financial statements involves combining the financial statements of the parent and its subsidiaries by adding together like items and eliminating intercompany transactions.
The purpose of consolidated financial statements is to provide a clear financial picture of an entire corporate group, showing its overall financial position and performance.
Key information that must be reported includes combined assets, liabilities, revenue, expenses, equity, and cash flows of the parent and its subsidiaries.
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