Hi Bilal,
Yes, I have run the consolidation year wise for each of the 4 companies for all the financial years - from 14/15 unto 19/20.
Also, for each of the year I have run the fiscal year close as well.
Below are my observations while comparing the consolidated financials (of one business unit) for a period with stand alone financials of the corresponding company for the same period :
(1) For all balance sheet accounts - "balance at date" amount of the consolidated company, matches with the "balance at date" amount of the corresponding individual company.
(2) For all income statement accounts - "balance at date" amount of the consolidated company, matches with "net change" amount of the individual company
Note : For income statement accounts, the "balance at date" amounts from consolidated company and the "balance at date" amount stand alone company does not match.
Hope I am making my question clear. Why for the income statement accounts "balance at date" amount of the consolidated company and the "balance at date" amount of the individual company does not match? While for balance sheet this sort of "balance at date" to "balance at date" matching works. The logic behind it is what i am trying to under stand.
Regards
Sriram
