What does consolidation of financial statements involve?
- A Combining parent and subsidiary results, eliminating intragroup transactions and balances
- B Adding the parent and subsidiary figures directly
- C Reporting only the parent's results
- D Reporting the largest entity only
Answer
Combining parent and subsidiary results, eliminating intragroup transactions and balances
Non-controlling interests are presented separately within equity, and unrealised intragroup profits must be eliminated.





