METHOD AND LEGISLATIVE REGULATION OF CONSOLIDATION FINANCIAL STATEMENTS
Journal Title: The Institute of Accounting, Control, and Analysis in the Globalization Circumstances - Year 2016, Vol 1, Issue 1
Abstract
Introduction. The complexity of economic relations, which grows and generates needs of different user groups in accurate, impartial information on financial and property status and the entity, are reflected in the consolidated financial statements. At the same time there is a need to develop methods of consolidating financial statements in accordance with international and domestic law. Purpose. The purpose of this research is to highlight issues of economic substance and regulatory consolidated financial statements of companies, search techniques consolidation of the financial statements and the problems it is made in accordance with IFRS in Ukraine. Methods. General scientific and special methods, including retrospective analysis, clustering, comparison of abstraction, induction and deduction, analysis and synthesis are used in the paper. Results. The author studied the national and international legislation regulating the consolidated financial statements and prospects of implementation of IFRS. It is proposed to make amendments to the methods of consolidated financial statements and justify the consolidation using IFRS basis. Namely – to apply the methods of the current consolidation of the financial statements, which will enable users to more thoroughly analyze the financial statements and make informed decisions. The basic requirements for the preparation of consolidated financial statements are analyzed. The process of consolidation of financial statements identified the aspects of the consolidated financial statements in accordance with IFRS. Discussion. Further research in this area needs to develop methods of consolidating reporting and implementation of the automated system, which will independently and cost-effectively get consolidated financial statements of the corporate group.
Authors and Affiliations
Iryna Godnuk
Keywords
Related Articles
- EP ID EP184880
- DOI -
- Views 199
- Downloads 0
PECULIARITIES OF ANALYSIS OF CURRENT ASSETS AT THE MACRO LEVEL IN THE PRESENT CONDITIONS
In an unstable economy, timely provision of raw materials, materials, high quality, in the required volume, at an affordable price, and so on, is an important point for the continuous production process. All of these poi...
WORKING DOCUMENTS OF NON-CURRENT ASSETS INTERNAL CONTROL TRANSACTIONS: APPLIED ASPECTS
Introduction. Control in general, and particularly domestic, occupies an important place in the management system. It is and still is the object of attention in the research of many scientists. However, documentation fil...
FORMATION OF EFFECTIVE SYSTEM OF AGRICULTURAL ENTERPRISES’ INTERNAL CONTROL
Introduction. Under the market conditions enterprises have different strategic and local objectives of their activities, which vary from time to time. However, only the effective system of internal control can provide re...
TRANSFORMATION OF THE ACCOUNTANT’S ROLE MANAGEMENT IN THE ERA OF GLOBALIZATION: INTERNATIONAL EXPERIENCE
Introduction. The process of globalization has a significant impact on the global economy’s development and building of the international accounting system. It promotes to the growth of the management accountant’s role i...
METHODICAL APPROACHES TO ANALYSIS INCOME AND EXPENDITURE BY BUDGET FUNDS MANAGERS
Introduction. The reforming of the public sector accounting requires the examination of new methodological approaches to analyzing budget administrators’ incomes and expenditures; developing analytical information to for...