§015c. (CB) Consolidated Financial Statement

Consolidated Financial Statement

GAO Glossary of Terms and Definition (September 2005)

Consolidated Financial Statement

The financial statements of a parent and its subsidiary or component entities, presented as if the group were a single entity. In the U.S. government, there is a consolidated financial statement for the federal government that encompasses the executive, legislative, and judicial branches as well as consolidated statements for agencies that encompass all their offices, bureaus, and activities.