Commercial law annual financial statements are not very suitable for informing about the economic situation of companies that are interconnected within a group. For capital market participants, the consolidated financial statements serve the central informational function. The EU regulation, which has been in effect since 2005, is particularly significant, as it requires capital market-oriented parent companies to prepare their consolidated financial statements according to International Financial Reporting Standards (IFRS). This book explains the essential aspects of consolidated financial reporting according to both the German Commercial Code (HGB) and IFRS through eleven cases with solutions.