Meaning of Standalone Financial Statements

when Financial statement do not compromise the financial statement of subsidiary, then the financial statement so prepared is termed as standalone Financial statement.

If a company has got subsidiary, as per AS 21 the company has to prepare consolidated financial statement. Thus, the financial statement of only Holding company is termed as Standalone financial statement. In the case the company has got associated and Joint Venture, the respective financial statement is termed as accompanying financial statement

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We have audited the accompanying standalone financial statements ofReliance Industries Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2015, the Profit and Loss Statement, the Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory ...".In this it is mentioned that accompanying standalone financial statements .Please explain what does it means..

Accompanying standalone financial statement means that there is also consolidated financial statement. To distinguish between the two financial statement, the term accompanying standalone financial statements is mentioned.