According to Iranian accounting standards, to provide financial information about the groups economic activities of economic entities, major companies are required to report its consolidated financial statements and separate financial statements. This study seeks to answer the question of which of these two sets of information to investors and other users need to provide more timely. In this study, the listed companies in Tehran Stock Exchange for separate financial statements in addition to consolidated financial statements are presented, For a period of 6 years, the years 1387 to 1392 have been selected. According to the results of the F-Limer and Hausman tests for each estimated regression models with random effects panel data method is used. These findings suggest that the information provided in the separate financial statements of the parent company financial statements compared to the more timely. It features information about the value and usefulness of financial statements increases and causes of financial statements for external users to be more useful and valuable. In addition, the results show that both sets of consolidated and unconsolidated financial statements are conditional conservatism, but information presented in the unconsolidated financial statements are conditionally more conservative than consolidated financial statements.