In the context of financial statements, the term "consolidated" means:

The term "consolidated" in financial statements refers to presenting a combined financial picture of a group of entities, which typically includes a parent company and its subsidiaries. Consolidation is necessary to provide stakeholders (such as investors, creditors, and management) with a holistic view of a company's overall financial health and performance as if they were a single economic entity.

Consolidated financial statements combine the assets, liabilities, equity, revenues, and expenses of the parent company and all its subsidiaries, eliminating inter-company transactions and balances to avoid double counting. This allows for a clearer understanding of the financial position and operating results of the entire corporate group.

In contrast, separate reporting for each entity would not give a complete view of the group's financial status, while including only parent company figures or focusing on individual subsidiary performances would obscure the overall impact of the subsidiaries on the parent company and the group's financial stability. Thus, consolidation provides a more accurate and comprehensive insight into the collective financial situation of the affiliated entities.