A financial statement reflects the financial status for all of the company’s related entities, including the original company assets. When a parent company acquires stock in a company to create a subsidiary, the subsidiary is required to maintain its own separate accounting records. Being a subsidiary, it does not operate independently. For the same reason, the parent company are required to consolidate financial statements to present its own financial operations, as well as those of the subsidiary. 

In order to present accurate financial reports of the company for investors and relevant counter parties, Multi-national corporations and major Multi-national corporations in Singapore must consolidate their financial statements. Our exquisite professional accounting team provides consolidation accounting services, ensuring that your corporation’s financial statements of the parent company and the subsidiary are proper and relevant.