Again starting from the fiction of a legal unit, the group can have no assets and liabilities against themselves. in the separate financial statements of subsidiaries are assets or liabilities to Group companies reported, this card is due to their legal independence. A sum of the values of individual accounts would – as with the consolidation of capital – leading to an inflation of the balance sheet. Receivables and payables between the consolidated companies, are, in the course of the consolidation eliminated. This process is called debt consolidation. In the terms assets and liabilities shall be construed in the narrow technical accounting sense, they are all intercompany obligations and claims to be eliminated. Under the debt consolidation loans so far covered, among other things, provisions for intra-group commitments.
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