A Comprehensive guide to Consolidated Account Statement

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A Comprehensive guide to Consolidated Account Statement

Consolidated account statement, often abbreviated as CAS, is a document that provides investment details. This document is provided by Indian depository institutions namely CDSL and NSDL to demat account holders. In this blog post, we shall discuss CAS statement meaning, its importance, process to obtain it and more.  

Consolidated Account Statement Meaning

CAS statement refers to a single or combined account statement that contains details of financial transactions made by an individual, during a period of one month, across all mutual funds and other securities held in demat mode.

If there are no transactions in a portfolio for a month, CAS statement cannot be obtained.

What is the importance of consolidated financial statements?

Consolidated financial statements allow investors to get a comprehensive view of a company's performance and financial health. Because of them, investors can have better decision making, gain confidence and ensure regulatory compliance.

The importance of consolidated financial statements can be understood through the following points:

• A consolidated account statement of mutual fund is a valuable tool for investors because it provides a comprehensive view of their investments.

• By obtaining consolidated financial statements, investors can get a comprehensive view of a company’s financial positions. This allows investors to make informed economic decisions. 

• By referring to CAS, potential investors can judge a company and its subsidiaries’ financial health.

• Consolidated financial statements make it easier for the companies to comply with the regulatory guidelines of the government.

• The burden of preparing separate financial statements for all subsidiaries gets reduced because of consolidated financial statements.

• Systemic risks that may not be obvious when reviewing entities separately may be identified with the help of consolidated financial statements.

• Accounting consolidated statements helps in inter-company transactions by eliminating/adjusting them to avoid double counting and misrepresentation of figures.

• These statements can reduce human error and save the time of corporate professionals.

How to get CAS Statement

CAS Statement can be obtained from the depository institution you have a demat account with. You can get a consolidated account statement from NSDL or CDSL in India. 

Most investors have a demat account with CDSL. To find out how to get CAS statement from CDSL, follow these steps:

Step 1: Visit the official portal of CDSL.

Step 2: On the homepage, click on the login option.

Step 3: Click on CAS/Declare Bonafide option. Then, click on login.

Step 4: Enter 10-digit PAN No. and also your 16-digit demat account number.

Step 5: Enter your D.O.B and characters displayed, then click on submit button.

Step 6: Thereafter, an OTP will be sent on your registered mobile number.

Step 7: Enter the OTP you have received, and then download the CAS statement.

By following the above-mentioned simple steps, you can easily obtain a consolidated account statement.

Conclusion

CAS statements help individuals to check financial transactions over a period of time, typically for a month. The mutual fund and other securities can be easily tracked by checking CAS statements regularly, allowing for better decision making. Remember that CAS statements can only be obtained if financial transactions have been made in an investor’s portfolio in a month.

Frequently Asked Questions (FAQs)

Q1. What is the main purpose of a consolidated account statement?

A. CAS is a document that allows investors to track their investments and performance without the requirement of looking at individual account statements of each investment. It saves a lot of time, leading to faster decision making.

Q2. Where can I download CAS from?

A. CAS statements can be downloaded online by accessing the CDSL or NDSL portal.

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