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Review the 2018 consolidated financial statements of CANEX Metals Inc., showcasing financial position, performance, and cash flows in the mineral exploration sector.

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What is consolidated financial statements?

Consolidated financial statements are financial reports that show the combined financial position and results of operations of a parent company and its subsidiaries as a single entity.

Who is required to file consolidated financial statements?

Typically, public companies and any private companies that have subsidiaries or significant ownership in other enterprises are required to file consolidated financial statements.

How to fill out consolidated financial statements?

To fill out consolidated financial statements, consolidate the financial data of all subsidiaries, eliminate intercompany transactions, and ensure alignment with applicable accounting standards such as GAAP or IFRS.

What is the purpose of consolidated financial statements?

The purpose of consolidated financial statements is to provide a clear picture of the overall financial health and performance of a corporate group, enabling stakeholders to assess the collective impact of all entities within the group.

What information must be reported on consolidated financial statements?

Consolidated financial statements must report consolidated assets, liabilities, equity, revenues, expenses, cash flows, and notes that include information about accounting policies and significant transactions.

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