Individual financial statements are also known as standalone financial statements.

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The financial statement reflects the financial results for all the entities it bought as well as the original assets of the company.

After a stock acquisition by the parent company, the subsidiary continues to maintain separate accounting records.

Shareholders don’t even need to know the results of these subsidiaries.

A consolidated financial statement takes the financial statement of a parent company and its subsidiaries and combines them into one comprehensive financial statement.

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A subsidiary whose financial statements are accounted differently from its parent company.

That is, an unconsolidated subsidiary publishes its balance sheets, 10-K statements and other information separately.

Consolidated financial statements: the financial statements of a group presented as those of a single economic entity.