The starting point for the preparation of the consolidated financial statements is:
A)The individual company statements at that date.
B)The previous year's consolidated financial statements.
C) The parent company's individual statements at year end.
D)The subsidiary company's individual statements at that date.

Question

Quizplus · Accepted Answer

The starting point for preparing consolidated financial statements is the individual financial statements of each company within the group, including both the parent and subsidiary companies, as of the reporting date.

The Starting Point for the Preparation of the Consolidated Financial