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Solutions · By Financial Statement

Consolidated Balance Sheet, Ready for Your Standard

Group assets, liabilities and equity with intercompany balances cleared, foreign subsidiaries at closing rates and non-controlling interests shown in equity. Under IFRS, US GAAP, UK GAAP, SFRS, AASB or Local GAAP.

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Statement of Financial Position · Demo Group · 28 Feb 2026 · SGD '000
IFRSUS GAAPUK GAAPSFRSAASBLocal GAAP
Assets
Current assets3,760
Non-current assets5,880
Total assets9,640
Liabilities
Current liabilities1,830
Non-current liabilities2,290
Total liabilities4,120
Equity
Share capital2,000
Share premium600
Retained earnings2,680
Translation reserve(120)
Revaluation reserve20
Attributable to owners of the parent5,180
Non-controlling interests340
Total equity5,520
Total liabilities and equity9,640
Assets = liabilities + equity SGD '000
Non-current
5,880
Current
3,760
Assets9,640
Owners
5,180
NCI 340
Liabilities
4,120
Liabilities + equity9,640
Balanced
NCI sits in equity, apart from the owners' share.
Intercompany balances cleared Closing-rate translation NCI in equity
1
Trade receivables / payablesEliminations
BetweenAmountDifferenceStatus
SG HoldCo · AU OpCo8000Balanced
2
AcquisitionJournals · UK SubCo
AccountDebitCredit
Share capital · UK SubCo400
Investment in subsidiary · SG HoldCo400
Statement of Financial Position · 28 Feb 2026Show Entities
SGD '000Demo GroupSG HoldCoSGDAU OpCoAUDUK SubCoGBPElims/Adj
Total assets9,6406,4002,9001,540(800)(1,200)
Total liabilities(4,120)(2,600)(1,580)(740)800
Net assets5,5203,8001,320800(400)
Total assets eliminations: 800 from the receivable, plus the 400 investment, gives 1,200. Group = entities + eliminations, line by line.
Intercompany Eliminations

What the Group Owns and Owes to Others

Balances between group companies cancel out, and the parent's investment in each subsidiary is replaced by that subsidiary's assets and liabilities.

  • Receivables and payables, loans and funding balances
  • Inventory transfer balances and fixed asset transfers
  • Acquisition journals for the investment in each subsidiary
  • Show Entities puts each entity, the eliminations and the group side by side

How intercompany eliminations work →

Group Equity

Owners, NCI and Every Reserve

Equity shows what belongs to owners of the parent and what belongs to non-controlling interests, with each reserve on its own line.

  • Share capital, share premium, treasury shares and retained earnings
  • Translation, revaluation, hedging and FVOCI reserves, and share of OCI of associates
  • Equity attributable to owners of the parent, then non-controlling interests
  • A statement of changes in equity reconciles every component by profit, OCI, dividends, shares issued and ownership changes

How NCI is calculated →

Consolidated Statement of Changes in Equity (IFRS)Year to Date
Retained Earnings
Opening Balance1,972
Profit for the Year858
Dividends(150)
Closing Balance2,680
Translation Reserve
Opening Balance(78)
Other Comprehensive Income(42)
Closing Balance(120)
Revaluation Reserve
Other Comprehensive Income20
Closing Balance20
Non-Controlling Interests
Opening Balance340
Profit for the Year28
Other Comprehensive Income(4)
Dividends(24)
Closing Balance340
Equity Attributable to Owners of the Parent
Opening Balance4,494
Profit for the Year858
Other Comprehensive Income(22)
Dividends(150)
Closing Balance5,180
Total Equity
Opening Balance4,834
Profit for the Year886
Other Comprehensive Income(26)
Dividends(174)
Closing Balance5,520
Profit for the YearOther Comprehensive IncomeDividendsComponents with no movement hidden · SGD '000
Built Into Every Run

Currency, NCI and Ownership Changes Handled First

By the time a balance reaches the consolidated balance sheet, it has been translated, split with NCI and adjusted for changes in ownership.

Closing-Rate Translation

Foreign subsidiaries' assets and liabilities are translated at the closing rate. The difference goes to the translation reserve, with the NCI share allocated to NCI. Currency translation →

Non-Controlling Interests

NCI journals bring the minority share of each subsidiary's net assets into equity, measured the way your standard allows. NCI →

Acquisitions and Disposals

Acquisition and disposal journals keep the group balance sheet right when ownership changes. Changes that keep control go through the equity transaction reserve. Step acquisitions →

Analyse the Position

Ratios From the Same Balance Sheet

Liquidity, leverage and working capital reports run on the consolidated figures, for the group or any entity.

Liquidity

Current ratio and quick ratio, to see whether the group can meet what falls due.

Leverage and Returns

Debt to equity, debt to assets, return on assets and return on equity.

Working Capital

Accounts receivable days, accounts payable days and days sales in inventory.

Explore Analysis & Reporting →

Tutorials & Standards

Learn to Read the Statements for Your Standard

Step-by-step tutorials walk through the consolidated statements line by line, for each accounting standard.

IFRSConsolidated Statement of Financial PositionRead the statement of financial position and profit or lossTutorial → US GAAPConsolidated Balance SheetsRead the balance sheets and profit and lossTutorial → UK GAAPConsolidated Balance SheetRead the balance sheet and profit and lossTutorial → SFRSConsolidated Statement of Financial PositionRead the statement of financial position and profit or lossTutorial → AASBConsolidated Statement of Financial PositionRead the statement of financial position and profit or lossTutorial → Local GAAPConsolidated Statement of Financial PositionRead the statement of financial position and profit and lossTutorial →
Go further
TutorialRead the statement of changes in equityOpen → TutorialReconcile the CTAOpen → TutorialUse leverage and risk KPIsOpen → TutorialCustomise the balance sheetOpen →
Consolidated Profit and Loss Consolidated Cash Flow Accounting Standards Currency Translation
FAQ

Common Questions

Which accounting standards does the consolidated balance sheet support?
IFRS, SFRS, AASB and Local GAAP use the Consolidated Statement of Financial Position. US GAAP uses the Consolidated Balance Sheets and UK GAAP the Consolidated Balance Sheet. Each standard also has a consolidated statement of changes in equity.
Which intercompany balances are eliminated?
Receivables and payables, loans and funding balances, inventory transfer balances, fixed asset transfers and other intercompany balances. Acquisition journals take out the parent's investment in each subsidiary.
How are non-controlling interests shown?
Non-controlling interests are shown within equity, separately from equity attributable to owners of the parent. The statement of changes in equity shows how each component moved, including NCI.
Which exchange rate is used for foreign subsidiaries?
Assets and liabilities of foreign subsidiaries are translated at the closing rate. The translation difference goes to the translation reserve in equity, with the NCI share allocated to non-controlling interests.
Can I see each entity's balance sheet next to the group total?
Yes. Turn on Show Entities to see the consolidated column next to a column for each entity and an Elims/Adj column. You can also run the statement for a single entity or a virtual group.
Can I change the layout of the balance sheet?
Yes. You can edit the system layout of the Balance Sheet report or build your own rows-and-columns report.

A Group Balance Sheet Without the Consolidation Workbook

Connect your entities, run the consolidation, and the consolidated balance sheet is ready for your standard.

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