1. Accounting: (1) Combining assets, equity, liabilities and operating accounts of a parent firm and its subsidiaries into one financial statement. See also consolidated financial statement. (2) Combining two or more firms through purchase, merger, or ownership transfer to form a new firm.
Use 'consolidation' in a Sentence
A couple that makes a significant amount of money and has numerous assets finally gets married and decides to consider a consolidation of their earnings and assets to simplify their financial situation.
The financing office is exploring consolidation ideas; they hope by consolidating fiscal departments and positions, they can eliminate redundancy and cut overhead costs, increasing revenue.
A client asked me how to better organized and manage their debt and finances. I told them through consolidation of loans they could combine multiple monthly payments into one lump payment focusing on eliminating their debts one by one but as a whole for the ease of budgeting.
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