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What is Consolidation?
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Answer / ashish srivastav
as per my view Consolidation or amalgamation is the act of
merging many things into one. In business, it often refers
to the mergers or acquisitions of many smaller companies
into much larger ones. The financial accounting term of
consolidation refers to the aggregated financial statements
of a group company as consolidated account. The taxation
term of consolidation refers to the treatment of a group of
companies and other entities as one entity for tax
purposes. Under the Halsbury's Laws of
England, 'amalgamation' is defined as "a blending together
of two or more undertakings into one undertaking, the
shareholders of each blending company, becoming,
substantially, the shareholders of the blended
undertakings. There may be amalgamations, either by
transfer of two or more undertakings to a new company, or
to the transfer of one or more companies to an existing
company". Thus, the two concepts are, substantially, the
same. However, the term amalgamation is more common when
the organizations being merged are private schools or
regiments.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / narasimha rao
CONSOLIDATION IS THE PERIOD END PROCESS COMBAINING THE
FINANCIAL RESULTS OF SAPARATE ENTITIES WITH PARENT COMPANY
TO FORM A SINGLE STATEMENT FOR FINANCIAL RESULTS
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / triloksharma71
Taking multiple debt or credit lines and consolidating them
into one new payoff plan. Frequently, this is a
consolidation loan, provided to consolidate debts into one
loan with one payment, typically shifting credit card debts
to secured debt by refinancing a mortgage.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / p.v.kumar
Consolidation means in my point of view am share oneexample:
One Organization an implemented some different Projects
like
a. Income generation
activities
b. Self
employment trainings to
Youth
c. Milch animal scheme to poor
people in Rural area etc...
In these swtichation the organization maintained different
types of accounting procedures
Preparing different types of financial reports and other
records. In this connection financial person could
consolidated these financial reports or statements in
proper way to understand every one what is the present
condition of the Organization comparison with last
year.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / navii
As per AS21 every company must present consolidated
financial report which consists of total of financial
results of subsidaries.
| Is This Answer Correct ? | 2 Yes | 3 No |
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