Accounting consolidating financial statements

We have emailed NHS foundation trust finance contacts today with staff sickness absence information.The cover note, guidance document and the sickness absence data spreadsheet attached have all been prepared by the Department.To view this licence, visit uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: [email protected] we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.For example, a company cannot own itself, which requires the elimination of inter-company stock ownerships.

In addition to the elimination of inter-company sales, the preparation of consolidated statements requires certain other elimination entries to make the statements reflect a single corporate entity.

However, if ABC or XYZ sells to an external business entity, then those revenues are part of the consolidated income statement.

Similarly, raw material purchases from external suppliers and salaries are also part of the consolidated income statement.

This publication is available at https://uk/government/publications/nhs-foundation-trusts-financial-accounting-guidance/financial-accounting-guidance-updates From 2017/18 onwards, financial accounting and reporting updates for NHS trusts and NHS foundation trusts can be found at NHS Improvement is keen to engage with the foundation trust sector in ways that work for the sector.

NHS foundation trust finance staff should check this page for updates on year-end accounts, the foundation trust consolidation () process and the agreement of balances process. One initiative is to use Twitter to share updates and encourage discussion and debate.

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