If we desire respect for the law, we must first make the law respectable.

✨ Enjoy an ad-free experience with LSD+

Legal Definitions - consolidated financial statement

LSDefine

Law school: Where you spend three years learning to think like a lawyer, then a lifetime trying to think like a human again.

✨ Enjoy an ad-free experience with LSD+

Definition of consolidated financial statement

A consolidated financial statement is a report that combines the financial information of a company and all its subsidiaries as if they were a single entity. This report provides a comprehensive overview of the financial health of the entire group.

For example, if a company owns several smaller companies, it can create a consolidated financial statement that includes the financial information of all those companies. This statement will show the combined revenue, expenses, assets, and liabilities of the entire group.

A consolidated financial statement is important because it gives investors and stakeholders a clear picture of the financial performance of the entire group. It can also help the company make better financial decisions by identifying areas of strength and weakness across the group.

You win some, you lose some, and some you just bill by the hour.

✨ Enjoy an ad-free experience with LSD+

Simple Definition

A consolidated financial statement is a report that shows the financial condition of a company and all its subsidiaries as if they were one big company. It includes information about assets, liabilities, income, and expenses. This report is important because it gives a complete picture of the financial health of the entire group of companies.

A 'reasonable person' is a legal fiction I'm pretty sure I've never met.

✨ Enjoy an ad-free experience with LSD+

A 'reasonable person' is a legal fiction I'm pretty sure I've never met.

✨ Enjoy an ad-free experience with LSD+