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In the context of financial accounting, consolidation is the aggregation of the financial statements of two or more companies under the same ownership into a consolidated financial statement.
To really grasp consolidation, you need to understand that in the outside world, no one cares about money that’s traded back and forth between different companies under the same ownership.
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In reality, it’s rare to have such a simple situation.Often, business leaders look only at their individual statements to go about their business.At the end of the day, consolidation is really about addition – adding in balancing entries. Here are some of the complexities we see regularly: 1.CFOUR is a financial software for consolidation that assists inter-company accounting by centralising data from various sources.It allows for flexible collaboration to process consolidation faster and get accurate consolidated reports instantly.