This article discusses the consolidation of financial statements and deferred tax balance. It explains the accounting principles and standards for financial reporting, including AASB 1024, AASB 1013, AASB 1015, AASB 1010, and AASB 1020. The article also covers the definition of control, the need for consolidation, and the calculation of non-controlling interest. The deferred tax balance is explained in detail, including its calculation and the accounting treatment for it. The article concludes with references to relevant sources.