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Under the Halsbury's Laws of England, 'amalgamation' is defined as "a blending together of two or more undertakings into one undertaking, the shareholders of each blending company, becoming, substantially, the shareholders of the blended undertakings.There may be amalgamations, either by transfer of two or more undertakings to a new company, or to the transfer of one or more companies to an existing company".Honestly, I loathe this option, I would like to convince them to move to another software that actually consolidates.Maybe Timberline does, and our company hasn’t learned how to use it correctly.

Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they let you gauge the overall health of an entire group of companies as opposed to one company's standalone position.

Consolidated financial statements report the aggregate of separate legal entities.

A parent company can operate as a separate corporation apart from its subsidiary companies.

In other words, the consolidated financial statements agglomerates the results of the subsidiary businesses into the parent company's income statement, balance sheet and cash flow statement.

Accounting treatment of both combined and consolidated financial statement eliminates intercompany transactions.




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