Intermediate Financial Accounting I
A consolidated balance sheet is a financial statement that combines the assets, liabilities, and equity of a parent company and its subsidiaries into one comprehensive report. This document reflects the overall financial position of a corporate group as if it were a single entity, ensuring that the financial health of the entire organization is presented clearly. It helps stakeholders understand the total resources and obligations of the group, eliminating any inter-company transactions or balances that could skew the true financial picture.
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