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THE NATIONAL WILDLIFE FEDERATION Financial Statements For the Years Ended August 31, 2019, and 2018and Report Thereon Reports Required in Accordance with Uniform Guidance For the Year Ended August
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Combined financial statements are financial statements that present the financial position and the results of operations of a group of entities that are under common control or ownership. They combine the financial data of these entities into a single set of financial statements.
Entities that operate under a single economic entity or have a parent-subsidiary relationship are typically required to file combined financial statements, particularly for regulatory purposes.
To fill out combined financial statements, compile the individual financial statements of each entity under common control, eliminate intercompany transactions and balances, and then aggregate the remaining figures to reflect the entire group's financial position and performance.
The purpose of combined financial statements is to provide a comprehensive view of the financial status and operational results of a group of related entities, making it easier for stakeholders to evaluate the overall financial health of the group.
Combined financial statements must report information including assets, liabilities, equity, revenues, expenses, and cash flows, as well as notes detailing the basis of preparation, accounting policies, and significant adjustments made during the consolidation process.
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