And consolidating the

Businesses consolidate when two or more small businesses combine to form one larger organization.Also referred to as amalgamation, consolidation can result in the creation of an entirely new business entity or a subsidiary of a larger firm.

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Parent companies that hold more than 20% qualify to use consolidated accounting.

If parent company holds less than a 20% stake, it must use equity method accounting.

In financial accounting, consolidated financial statements provide a comprehensive view of the financial position of both the parent company and its subsidiaries, rather than one company's stand-alone position.

In business, consolidation occurs when two or more businesses combine to form one new entity, with the expectation of increasing market share and profitability and the benefit of combining talent, industry expertise or technology.

Tip: If you frequently consolidate data, it might help to base your worksheets on a worksheet template that uses a consistent layout.