Preparation Group / Consolidated Accounts

Fee Guideline for the Preparation of Consolidated Accounts

Package available Fee (SGD) Fee (SGD)
Preparation of Consolidated Accounts – One Subsidiary from $500
Preparation of Consolidated Accounts – Two Subsidiaries from $900
Preparation of Consolidated Accounts – More than Two Subsidiaries Call for quotation

Preparation Group / Consolidated Accounts

A Group or Consolidated financial statement is a aggregated of financial results for all related entities, as well as for the original company assets, excluding the % owned by other minority shareholders (if the subsidiary company is not 100% owned by the Parent Company). Any inter-company sale and purchase transactions would also have to be eliminated at the Group Account level.

When a parent company acquires or set-up a company to create a subsidiary, the subsidiary maintains its own separate accounting records. However, the parent company controls the subsidiary (through its representation on at the Board level), and the subsidiary takes directives from the Parent company. As a result, the parent company will consolidate financial statements to present its own financial operations, plus those of all its subsidiaries underneath.

How Timcole can Help You

Companies with subsidiary companies need to understand how to consolidate financial statements in order to accurately represent financial results (at Group Level) for investors and for ACRA Filing purposes.

Please call us now for a discussion on how we can help you to prepare a Group Financial Statements that will be in compliance with your annual filling with ACRA.