guide to Consolidated Financial Statements | AccountingWEB guide to Consolidated Financial Statements

The Companies Act 2006 (CA06) now requires medium-sized groups to prepare consolidated (group) accounts.

Under s399 of CA06, group accounts only have to be prepared where, at the end of a financial year, an undertaking is a parent company. A common question asked is whether this includes overseas subsidiaries. If a company is registered in the UK, those subsidiaries would need to be included within the consolidated financial statements.


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very good article

Mr.M | | Permalink

an excellent and reasonably detailed article.


Ayesha Bham | | Permalink

Agree with Mr M. This is a very useful article. Thank you Steve.

Subsidiary Period end

Tickers | | Permalink

I know this is a late contribution to the article, but does anyone know the implications where a subsidiary has a different period end?