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Their primary financial statements are consolidated statements, reflecting the total assets, liabilities, owners' equity, net income, and cash flows of all the corporations in the group.
Accounting rules were also changed, forcing companies to produce consolidated statements and disclose cashflow figures and making it harder to hide poorly performing subsidiaries.
Opportunity can lie buried in the notes to consolidated statements.
2001 was the fifth consecutive year that the GAO was unable to judge "whether the consolidated statements are fairly stated in conformity with U.S. generally accepted accounting principles".
As a result, financial results related to the Home business are presented as net loss from discontinued operations on the consolidated statements of income, and are excluded from all other results unless otherwise noted.
The acrimonious feud with the EU has become such a constant financial concern for the company that it now includes a "European Commission fines" line item in its consolidated statements of income.
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This firm will then become the launch-pad for new products under the Financial One brand: a single account combining insurance, banking and broking, a consolidated statement, and new types of bank cards.
Instead, you'll notice something called a "consolidated statement of loss".
Cash flow from operations refers to net cash provided by operating activities, as listed in the consolidated statement of cash flows.
You get that number by taking the "cash flow from operations" reported on the "consolidated statement of cash flows," then subtracting capital expenditures.
Holding securities through a brokerage or fund company is even more of an advantage since the 2003 tax cut, because you should get a consolidated statement tallying the dividends "qualified" for the new top 15% rate.
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