Answer Posted / ashish srivastav
as per my view Consolidation or amalgamation is the act of
merging many things into one. In business, it often refers
to the mergers or acquisitions of many smaller companies
into much larger ones. The financial accounting term of
consolidation refers to the aggregated financial statements
of a group company as consolidated account. The taxation
term of consolidation refers to the treatment of a group of
companies and other entities as one entity for tax
purposes. Under the Halsbury's Laws of
England, 'amalgamation' is defined as "a blending together
of two or more undertakings into one undertaking, the
shareholders of each blending company, becoming,
substantially, the shareholders of the blended
undertakings. There may be amalgamations, either by
transfer of two or more undertakings to a new company, or
to the transfer of one or more companies to an existing
company". Thus, the two concepts are, substantially, the
same. However, the term amalgamation is more common when
the organizations being merged are private schools or
regiments.
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