Answer / viswanatha

onsolidated f/s like combined f/s sum up the reporting entities or subsidiaries transactions into a total.
The difference is that consolidated f/s will eliminate transactions where subsidiary entities bought and sold goods or loaned each other money. For example lets say we have Parent company P and subsidiary companies S and T. S sells 1,000 widgets to T for 10 each = $10,000. S would record revenue of $10,000 and T would record expense of $10,000. However when P consolidates the f/s P would eliminate that sale as an inter-entity transaction, if not, then revenue and expenses would be over stated by $10,000. P is really just moving money from one pocket to another, there is no sale where P actually gains real income.
Hope this was helpful.

Answer / ramu naik

parent company means:- controlling to all its branches

subsidary company means:- company which are controlled by
parent company and executing orders or parent company

sir, i m working in an ngo as accountant but new. pleas clear my doubt in tally. suppose 'a' salary is 5000. he taken 3000 advance from salary and not returned. i paid a cheque next month rest 2000. 'b' salary is 10000, taken 5000 advance from salary and returned so i paid him 10000 total salary. what all to do in tally. is the following procedure is ok or not?

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