Consolidated Financial Statements may prove to be one of the most important entities for an organization. It can give the idea about the financial statistics of the organization and also provides the detailed information about the ways in which the organization could run in an effective manner. In different businesses, consolidated financial statements have huge advantages. There are a large number of advantages of Corporate Financial Statements though there are certain disadvantages of the consolidated financial statements which may be important to be analysed and understood.
Financial statements are one of the most important entities for any organization. It is something that ensures each and every company runs in a proper manner. Financial statements may be defined as the statement which may be related to the equity of the shareholders. This may prove to be one of the most important tasks when there is requirement for the change in the large number of components related to equity. In this report, the discussion will be focused on the different kinds of consolidated financial statements of the company. Along with this the discussion will focus on the different entities which may be considered for the preparation of the consolidated financial statements. The report will also analyse the advantages and disadvantages which may be associated with the consolidated financial statements. The different process which may be involved in the consolidation will be analysed and assessed.