accounts used in relation to the activities of a group of companies to the effect that duplications in items are eliminated so that the combined figures do not show more assets and equity than actually exist.
In the case of the consolidated accounts, there are no longer imposed specific provisions requested by law and taxation, as the primary objective is to determine and present the financial and economic picture of the group.
The latest fiscal report, consolidated accounts ended February, 2010, has had a net loss of 10.9 billion yen ($121 million), by dull result of clothing sale for department stores, which is its main business.
The members considered the matters presented as per the Notice of Meeting that had been circulated earlier and all matters including the approval of the Annual Audited and Consolidated Accounts were passed.
Finnish media group Alma Media Corporation said on Tuesday (27 September) that the Finnish Financial Supervision Authority was reviewing again the IFRS treatment of the acquisition of Alma Media shares for the purposes of Almanova's future consolidated accounts.
Deloitte & Touche said that it had warned the airline after auditing the privately owned Volare Group's consolidated accounts in 2002 and 2003 and that the airline was in financial trouble and that its recovery depended on finding new finance to implement the board's strategy.