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Consolidating financial statement

Leo Wang's Profile

Hi,

Our structure is with a Cayman Island holding company as the parent company. Under it, there are three 100%-owned companies. When I do consolidated financial statement, do I simple pull together the three for B/S, I/S and cash flow? there is no inter-company transactions.

Thank you.

Answers

Al Helms
Title: controller
Company: NA
(controller, NA) |

If the parent owns the subs you do have intercompany balance sheet accounts (at a minimum, stock/equity and investment accounts)

Leo Wang
Title: Accountant
Company: ICZoom Inc.
(Accountant, ICZoom Inc.) |

Hi Al,

Thank you for the reply. I really like this community where accountant can support each other..

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