Definition of a Consolidated Income Statement?

Answer According to the International Accounting Standards Committee, which sets global accounting standards, consolidated financial statements are prepared for a group of companies, known as subsidiaries... Read More »

Top Q&A For: Definition of a Consolidated Income Statement

What Is a Projected Consolidated Income Statement?

A projected consolidated income statement helps corporate leadership answer important questions of interpretation and analysis. Senior executives review the report to understand how the company wou... Read More »

What is a consolidated statement of cash flows?

A cash flow statement is an accounting document which tracks the actual inflows and outflows of cash for an entire business, as opposed to tracking its accounting profits or losses. A consolidated ... Read More »

What Is the Effect of the Intercompany Sale of Land on Consolidated Net Income?

Accounting regulations dictate how a parent company must record and report investments in affiliates, especially with intercompany sales and purchases of land. To calculate its consolidated net inc... Read More »

Is income Tax Payable on income statement?

No. Income taxes payable is a liability and would show up on the balance sheet (although it might not have its own caption depending on how material the number is compared to the rest of the Compan... Read More »