What is a combined financial statement?

Combined financial statements are documents that provide a quick and easy way of reviewing the current state of multiple types of financial assets. The document may replace the need to receive more financial statements and spend time by combining details into a joint reference source. Combined financial statements may include information about various assets and account balances, which makes this document the ideal method of determining the latest net assets associated with an individual or business entity.

Combined financial statements are most commonly used by business entities that operate more than one company within the overall operation. Rather than relying on an individual financial statement for each company, a combined statement allows owners and investors in the corporation to quickly look at net assets associated with parents and subsidiaries. Because the document provides an accounting format side by side of self -balance and total net assets for each entity and cumulative data, buckleIt takes much less time and effort than sorting through hundreds of pages of data associated with each entity.

Over the years, the individuals and other types of financial corporations have also begun to offer individuals. This can often make a record for home. A typical combined financial statement for individuals would include information on account checking, savings account activities, current branches of deposit certificates or individual pension accounts. A combined statement may also include credit card activity provided that the credit card is issued by the same bank where the patron has established checks and savings accounts.

with the arrival of interčists and online banking, many institutions now offer a combined financial statement in electronic format. This can be in the form of a locked document that the client can access using secure loginIT Data or View access to customized web pages using customized login information. In both cases, the development of access to a combined financial statement via the Internet means that customers can now obtain financial data reflecting contributions that are recent as the previous working day.