Definition: Consolidated accounts

OECD terminology

Those accounts which are drawn up to reflect the affairs of a group of entities. 

For example, a ministry or holding company with many different operating agencies subsidiary companies may prepare consolidated accounts reflecting the affairs of the organisation as a whole, as well as accounts for each operating agency/subsidiary.
Organization for Economic Cooperation and Development (OECD), "Effects of European Union Accession, Part 1: Budgeting and Financial Control", OECD SIGMA Paper No. 19, Paris, March 1998

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