However, even when the data entries are laid out differently in each spreadsheet, Excel can still consolidate them provided that you’ve used the same labels to describe the data entries in their respective worksheets.Most of the time, you want to total the data that you’re consolidating from the various worksheets.The consolidated method of accounting applies when the parent company controls the subsidiary, which means it has direct operational control in the subsidiary's activities.Consolidated statements combine the income statements, balance sheets and statement of cash flows of the parent and subsidiary companies into a single set of statements.To do this select an empty sheet in the workbook - add a new one if necessary - and click in it.Choose Data Consolidate to view the Consolidate dialog.
However, if the subsidiary is partially owned (i.e., NCI exists), the elimination of such profit/loss may be allocated between the majority and minority interests.
Intercompany eliminations (ICE) are made to remove the profit/loss arising from intercompany transactions.
No intercompany receivables, payables, investments, capital, revenue, cost of sales, or profits and losses are recognised in consolidated financial statements until they are realised through a transaction with an unrelated party.
Thus, profit/loss will be visible to the parent’s shareholders only, and not to the minority interest’s.
: This is a transaction between two subsidiaries of the same company.