What is the difference between consolidated and individual company financial statements? Why do some EU countries prohibit

Question:

What is the difference between consolidated and individual company Why do some EU countries prohibit IFRS in individual company while others permit or require IFRS at the individual company level?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...