Consolidation (group accounts)

Roles that need it

• Group Reporting Accountant
• General Accountant
• External Audit Associate
• Accounting Advisory Associate
• Transaction Services Associate

Skills it belongs to

• Group consolidation
• International accounting standards (IFRS)

Related concepts

• Intercompany reconciliationIntercompany reconciliation is the matching of balances and transactions between entities of the same group so that both sides agree before consolidation eliminates them. Unmatched items are investigated and corrected during the close.
• Foreign currency translation (IAS 21)Foreign currency translation converts amounts into an entity's functional currency or the group's presentation currency. Under IAS 21 monetary items are retranslated at the closing rate, and translating foreign operations creates differences recorded in other comprehensive income.
• Statutory accounts (annual financial statements)Statutory accounts are the annual financial statements an entity must prepare and file under company law, under local GAAP or IFRS. In the EU, listed groups use IFRS for consolidated accounts under the IAS Regulation, and the Accounting Directive sets the content for local accounts.

Sources

• IFRS 10 Consolidated Financial Statements, IFRS Foundation (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.