What preparations should be made for the consolidated financial statements of the parent company and its subsidiaries (1)? Before preparing consolidated financial statements, the parent company should make the following preliminary preparations: ① Adjust the long-term equity investment of subsidiaries according to the accounting requirements of the equity method. (2) unify the accounting policies adopted by subsidiaries, so that the accounting policies adopted by subsidiaries are consistent with those adopted by the parent company. ③ Unify the accounting period of subsidiaries, so that the accounting period of subsidiaries is consistent with that of the parent company. (2) Preparations for subsidiaries. Before preparing consolidated financial statements, subsidiaries should provide the following information to the parent company in addition to financial statements: ① Accounting policies that are inconsistent with the parent company and their impact amount. ② Description of accounting period inconsistent with the parent company. ③ Information about all internal transactions with the parent company and other subsidiaries. (4) Relevant information on changes in owners' equity. ⑤ Other materials required for preparing consolidated financial statements. The above is the relevant knowledge compiled by Bian Xiao for everyone. If you have more questions, you can consult a professional online lawyer, or directly entrust an online lawyer to help you get out of legal difficulties.