Financial Consolidation is the process of gathering data from various subsidiaries, companies or business units and combining it into one set of financial statements. These financial statements are used to gain insight into overall performance and make decisions on how best to allocate resources. It’s an important process for businesses of all sizes as it provides a centralized, comprehensive view of their financial position. By following sound consolidation processes, businesses can quickly and accurately assess their financial health, allowing them to make informed strategic decisions.