Consolidation accounting involves the following.

a$.$ set$-$off assets and liabilities and recognise a single net investment in each subsidiary.

b$.$ line$-$by$-$line aggregation of the items included in financial statements.

c$.$ combine the cash balances of the separate entities into one$-$line and aggregate the remaining net assets into one item.

d$.$ combine all assets and liabilities into one net assets item and combine all profits and losses into one profit or loss item