Is it mandatory for every holding company to prepare consolidate financial statements including the results of all of it's subsidiary companies?

Yes

An entity with one or more subsidiaries (a parent) presents consolidated financial statements,

unless

all the following conditions are met:

• It is itself a subsidiary(subject to no objection from any shareholder)

• Its debt or equity are not publicly traded.

• It is not inthe processof issuing securities to the public.

• The ultimate or intermediate parent of the entity publishes IFRS consolidated financial statements.

AS.21 come into effect in respect of accounting periods

commencing on or after1st April i.e. for year ending31st March

2002. The A.S.21 is applicable to all the enterprises that prepare

consolidated financial statement. It is mandatory for Listed

companies and Banking companies.4

 As per AS21, The Consolidated financial statements would

include:

i) Profit & Loss A/c

ii) Balance sheet

iii) Cash flow statement

iv) Notes of Accounts except typical notes.

v) Segment reporting

AS21 also desire various import terms, as well as treatment

Agrees with the mentioned answers.

Good answers 

Intercompany eliminations are used to remove from the financial statements of a group of companies any transactions involving dealings between the companies in the group