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This document presents the consolidated financial statements of Advantage Oil & Gas Ltd. for the years ended December 31, 2016 and 2015. It details the responsibilities of management for the preparation of financial statements, internal controls over financial reporting, and includes an independent auditor’s report. The statements cover the financial position, performance, and cash flows of the Corporation, while also highlighting the key management metrics, accounting policies, and financial...
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Consolidated financial statements are financial reports that combine the assets, liabilities, equity, income, and cash flows of a parent company and its subsidiaries into one comprehensive report.
Publicly traded companies and other entities with subsidiaries are generally required to file consolidated financial statements.
To fill out consolidated financial statements, gather financial information from all subsidiaries, eliminate intercompany transactions, and compile the data into a format that adheres to relevant accounting standards.
The purpose of consolidated financial statements is to provide a comprehensive overview of the financial position and performance of a group of companies as a single entity, offering greater transparency to investors and stakeholders.
Consolidated financial statements must report total assets, total liabilities, total equity, consolidated net income, cash flows from operating, investing, and financing activities, along with notes detailing accounting policies and transactions.
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