WHAT IS CORE ACCOUNTING, GROUP CONSOLIDATION ? CONSOLIDATED
ENTRY. COULD YOU GIVE ME AN EXAMPLE
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Answer / Rajul Chandel
Core Accounting refers to the process of maintaining financial records for a single entity (like a company). Group Consolidation is the process of combining the financial statements of multiple entities (usually subsidiaries) into one set of consolidated financial statements. This provides an overall view of the financial position, performance, and cash flows of the parent company and its subsidiaries combined.nnAn example would be a parent company X that owns subsidiary companies A, B, and C. The financial records of all three entities are combined to create consolidated financial statements showing the overall financial position of the group.
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