Financial consolidation

{
  "id": "MLC-T-INS-001502",
  "term": "Financial consolidation",
  "field": "Insurance and risk management",
  "definition": "The process of combining the financial statements of separate entities within a group into a single, unified set of financial statements. This practice presents the financial position, performance, and cash flows of the entire economic entity as if it were a single organization. It is typically required for entities where one controls the others, such as a holding company and its subsidiaries.",
  "url": "https://mlchart.com/terminology/insurance/financial-consolidation/"
}