Consolidated financial statements

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Consolidated accounts - get a full overview with Aider


Keeping track of your corporate structure doesn't have to be complicated. With the right systems and common house rules, it's easier to get an overview and avoid manual searches in spreadsheets. Aider offers effective group accounting solutions that give you better control and fewer sources of error.


What are consolidated financial statements - and why are they important?


Consolidated financial statements show the results and balance sheets of all the companies in the group together, as if they were one legal entity. It provides an overview of the group's overall finances and makes it easier to manage, report and document internal transactions.


In practice, this means that:


  • Internal sales between companies are eliminated


  • Consolidation takes place automatically in the system


  • You get a better overview of both the group and individual companies



- In a corporate group, it can be difficult to keep track of internal sales between companies. Our solution is designed to handle this digitally, so you don't have to search in spreadsheets," says Terje Glesaaen, National Subject Manager IFRS and Group Accounting at Aider.


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Automatic consolidation with Aider - one solution, many benefits

Electronic elimination of internal transactions. Avoid manual entry and potential errors. Our system takes care of the whole process.

"Heredity" for common rules and structure. We add common guidelines and templates on top - and the system ensures that all companies follow the same structure and routines.

Better overview and control. See clearly what belongs to the individual company and what applies to the Group as a whole.

Scalable solution for growth and acquisitions. Our solution grows with you. Whether you have three or thirty companies, the setup is customized as needed.

When are consolidated financial statements required?


According to the Accounting Act, consolidated accounts are required if the company meets two of the following three criteria:


  • Annual sales revenue of more than NOK 168 million


  • Balance sheet total over NOK 84 million


  • An average of 50 employees or more during the financial year



However, even groups that are not legally required to prepare consolidated financial statements can benefit greatly from doing so - especially to gain better insight and overview of internal transactions and results.


- It's not just those that are a group according to the legal definition that can benefit from this. It's about gaining an overview and insight into how the business is connected," says Glesaaen.


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Ready to take your consolidated accounts to the next level?


Do you want a more efficient and transparent solution for your consolidated accounts?
Contact us at Aider - we'll help you gather the numbers, eliminate manual work and ensure good control.

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