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Clarification request

115 views 1 replies

LAKSHMI KANTH

TAX CONSULTANT

449 Points Joined July 2018

Sir, when big corporates makes annual audited financial statements, they make two kinds of reports 1. consolidated balance sheets- ok self explanatory 2. standalone balance sheet - what is this standalone balance sheet ?

Replies (1)

Sagar Patel

Tax and Business Consultant

11616 Points Joined July 2015

Simply, standalone balance sheet is balance sheet as we prepare balance sheet of Company.( only self assets and liabilities includes, and investment in subsidiary( i.e other groups Company) is shown as just investment)

Consolidated balance sheet means balance sheet of whole Group. (All assets or all liability included including of subsidiary companies)

So, We can say that standalone balance sheet is company's balance sheet whereas Consolidated balance sheet is Group's balance sheet