Consolidation of group financials: present parent and subsidiaries as one economic entity with intragroup eliminations and minority disclosure. Consolidated financial statements present a parent and its subsidiaries as a single economic entity; control is ownership of majority voting power or control of governing body to obtain economic benefits. All subsidiaries are consolidated unless control is temporary for disposal or severe restrictions impair transfers. Consolidation combines like items line-by-line, eliminates the parent's investment against its share of subsidiary equity, recognises goodwill or capital reserve for differences, eliminates intragroup balances and unrealised profits/losses, and presents minority interest separately. Uniform accounting policies and aligned reporting dates are required, with prescribed disclosures.