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Consolidated Contractors Company (CCC), founded in 1952 is a globally diversified company specializing in engineering and construction. CCC has become the largest Engineering and construction company in the Middle East with a workforce consisting of over 36,000 personnel embodying over 60 different nationalities.

General consolidation rules say you must consolidate whenever one company has a majority of the voting power in another company, meaning it controls at least 51 percent of the subsidiary's outstanding common stock.

Parent companies/investors owning less than 20% to over 50% of a company's shares may use the equity consolidation method for reporting. This method is often used when one entity in a joint venture clearly wields more influence over the venture (than the other entity).

What Are the Requirements for Consolidated Financial Statements? If a parent company has 50% or more ownership in another company, that other company is considered a subsidiary and should be included in the consolidated financial statement.

To put it simple, to avail the exemption from preparation of consolidated financial statement- • a company must be an unlisted subsidiary; and • the holding company of that company must have done consolidation; and • Apart from above, a prior intimation in writing shall be given to all the members of the company and ...

Consolidated financial statements are used when the parent company holds a majority stake by controlling more than 50% of the subsidiary business. Parent companies that hold more than 20% qualify to use consolidated accounting. If a parent company holds less than a 20% stake, it must use equity method accounting.

What are the benefits of consolidation? Simplify your repayment process by making only one payment every month instead of making separate payments for each loan. ... Secure a new interest rate on your consolidation loan that could possibly be lower than what you are currently paying. Gain more flexibility in repayment.