Features of consolidation of pension plans and pension funds within the group of entities in accordance with IFRS

Auditor ◽  
2015 ◽  
Vol 1 (3) ◽  
pp. 57-63 ◽  
Author(s):  
Неелова ◽  
N. Neelova
Keyword(s):  
Financial Statements ◽  
Pension Funds ◽  
Pension Plans ◽  
Private Pension ◽  
Financial Statement ◽  
Consolidated Financial Statements ◽  
Corporate Pension ◽  
Consolidated Financial Statement

The article discusses the recognition and disclosure of corporate pension plans of groups in a separate and consolidated financial statement in accordance with IFRS. The procedure of consolidation of the private pension funds, established by group and running its pension plans has been reviewed and recommendations has been suggested. The effect of incorporation of pension funds on the consolidated financial statements of the group has been revealed.

Features of consolidation of pension plans and pension funds within the group of entities in accordance with IFRS

Auditor ◽  
2015 ◽  
Vol 1 (3) ◽  
pp. 57-63
Author(s):  
Евсеев ◽  
E. Evseev ◽  
Анохова ◽  
Elena Anokhova
Keyword(s):  
Financial Statements ◽  
Pension Funds ◽  
Pension Plans ◽  
Private Pension ◽  
Financial Statement ◽  
Consolidated Financial Statements ◽  
Corporate Pension ◽  
Consolidated Financial Statement

The article discusses the recognition and disclosure of corporate pension plans of groups in a separate and consolidated financial statement in accordance with IFRS. The procedure of consolidation of the private pension funds, established by group and running its pension plans has been reviewed and recommendations has been suggested. The effect of incorporation of pension funds on the consolidated financial statements of the group has been revealed.

scholarly journals The Practice of Pension Funds Bankruptcy and Corporate Pension Programs Liquidation

2020 ◽  
Vol 19 (4) ◽  
pp. 6-14
Author(s):  
V.V. Bataev ◽  
◽  
N.B. Pochinok ◽  
Keyword(s):  
Pension Funds ◽  
Pension Plans ◽  
Private Pension ◽  
Pension Systems ◽  
Pension Schemes ◽  
The World ◽  
Corporate Pension

in the article the world practice of control over the activities of private pension funds is investigated. The principles of international pension regulators are analyzed. The methods of bankruptcy of pension funds are revealed. The features of liquidation of corporate pension programs are emphasized. A number of practical examples of the termination of the activity of pension plans are indicated. Differences in the procedures for completing professional pension plans and individual pension schemes are balanced. Conclusions and recommendations are given for national supervisors to improve pension systems.

The Accounting Entity, Relevance, and Faithful Representation: Linking Financial Statement Notes to the FASB and IASB Conceptual Frameworks

2013 ◽  
Vol 28 (4) ◽  
pp. 1009-1025 ◽  
Author(s):  
Jack M. Ruhl ◽  
Ola M. Smith
Keyword(s):  
Conceptual Framework ◽  
Financial Statements ◽  
Roman Catholic ◽  
Faithful Representation ◽  
Financial Statement ◽  
Conceptual Frameworks ◽  
Consolidated Financial Statements ◽  
Holy See ◽  
Class Time ◽  
Accounting Courses

ABSTRACT Although notes are an integral part of the financial statements, users lacking a technical accounting background often overlook them or consider them to be too difficult (Kieso et al. 2010). The authors observe that faculty generally devote little or no class time to the discussion or drafting of notes. Intermediate accounting textbooks relegate the presentation of notes to the end of the second intermediate accounting course. Nonetheless, notes are extremely important to financial statement users. In this case, students examine selected notes of the Consolidated Financial Statements of the Holy See (the financial entity associated with the Roman Catholic Papacy) for the year 2007. The Holy See's financial statement notes are ideal for discussion purposes, because students find “surprises.” Upon completion of the Discussion Questions, students have a new appreciation for financial statement notes, along with insights into how certain aspects of the FASB and IASB Conceptual Frameworks are linked to the notes. A case that attempted to include discussion of all the notes or the entire Conceptual Framework would become unwieldy. Therefore, in this case, we limit our focus to the accounting entity concept, relevance, and faithful representation. The case may be used with students enrolled in accounting courses from the principles level to the graduate level.

scholarly journals Развитие на практиките при изготвяне на консолидирани финансови отчети (The Development of Practices for the Preparation of Consolidated Financial Statements)

2020 ◽  
pp. 123-133
Keyword(s):  
Financial Statements ◽  
Regulatory Framework ◽  
Financial Statement ◽  
Practical Application ◽  
Consolidated Financial Statements ◽  
Information Requirements ◽  
Financial Position ◽  
Other Comprehensive Income ◽  
Economic Position ◽  
Source Of Information

The main source of information on the financial and economic position of a group of companies is the consolidated financial statement. Thus, the consolidated financial statements aim to fulfill the information requirements of both external and internal parties of the group. The article examines the consolidated financial statements in two aspects. The first one is the emergence of the need for consolidated financial statements and their step-by-step regulation and standardization. The second aspect is the practical application of the current regulatory framework in the preparation of the consolidated financial statements at the end of the reporting period. The article summarizes and illustrates the main consolidation procedures in the preparation of consolidated financial statements (consolidated statement of financial position, consolidated statement of profit or loss and other comprehensive income and consolidated statement of changes in equity) at the end of the reporting period.

General Electric: Investment Accounting and Consolidations

2002 ◽  
Vol 17 (3) ◽  
pp. 315-329 ◽  
Author(s):  
Walter G. Blacconiere ◽  
Patrick E. Hopkins
Keyword(s):  
Firm Value ◽  
Financial Statements ◽  
Financial Statement ◽  
Ratio Analysis ◽  
General Electric ◽  
Consolidated Financial Statements ◽  
General Electric Company ◽  
Accounting Disclosure ◽  
Economic Significance ◽  
Real World Setting

General Electric Company (GE) is a large, diversified corporation with hundreds of subsidiaries. As of December 31, 2000, GE had total consolidated assets of over $437 billion and a market capitalization of approximately $475 billion. This instructional case considers the use of GE's publicly reported financial statement data to illustrate the concepts and procedures related to (1) investment accounting under the equity method and (2) preparation of consolidated financial statements. In addition, the case highlights the effect of required consolidation on ratio analysis as well as the potential influence of accounting disclosure on investorsa' perceptions of firm value. Thus, this case should help you better understand the economic significance of relatively technical accounting procedures by analyzing their effects in a relevant, real-world setting.

scholarly journals Individual Pension Funds and Capital Market Development in Turkey

2016 ◽  
Vol 9 (2) ◽  
pp. 95-109 ◽  
Author(s):  
Yilmaz Bayar
Keyword(s):  
Stock Market ◽  
Positive Impact ◽  
Pension Funds ◽  
Pension Plans ◽  
Public Pension ◽  
Private Pension ◽  
Securities Market ◽  
Causality Test ◽  
Pension Systems ◽  
The Impact

AbstractBeginning with the 1980s, when the sustainability of the public pension systems became endangedered, many countries have developed their individual pension plans and/or occupational pension plans in order to supersede or support their public pension systems,. This study examines the impact of individual pension funds on the development of both debt securities market and stock market in Turkey during the period October 2006-May 2015, using Hatemi (2008) cointegration test and Toda and Yamamoto (1995) causality test with monthly data. We found that, in the long run, the private pension funds had positive impact on both development of debt securities market and stock market. Furthermore, causality appears to exist between the market for private pension funds, the debt securities market and the stock market.

A Mathematical Model of Foreign Trade Enterprise Consolidated Financial Statement

2013 ◽  
Vol 380-384 ◽  
pp. 4804-4808
Author(s):  
Xiu Fang Zhu
Keyword(s):  
Foreign Trade ◽  
Data Model ◽  
Financial Statements ◽  
Financial Statement ◽  
Enterprise Group ◽  
Consolidated Financial Statements ◽  
Financial Report ◽  
Average Value ◽  
Report Data ◽  
Substantial Control

Consolidated financial statements can reflect the comprehensive financial position and operating results of foreign trade enterprise group, reasonably determines the merger range of consolidated financial statements which is the key foundation work of preparing consolidated statements. In view of the problem that there is no specific provision of substantial control concrete measurement method of current new accounting standards, the paper takes nine enterprises of Shanghai with unclear merge reasons as sample enterprises. With their financial report from 2009 to 2011 as data sources, panel data model is applied to analyze the influence of merge scope change on sample enterprise book performance. The results show that the consolidated range changes may improve enterprise book report data, and the average value of book achievement influence is about 5.43%.

scholarly journals PELAPORAN INFORMASI KEUANGAN MENURUT SEGMEN

2016 ◽  
Vol 4 (2) ◽  
pp. 78
Author(s):  
Akhmad Riduwan
Keyword(s):  
Financial Reporting ◽  
Complete Information ◽  
Financial Statements ◽  
Financial Information ◽  
Financial Statement ◽  
Consolidated Financial Statements ◽  
Growth Trend ◽  
Financial Reports ◽  
Financial Report ◽  
Public Company

Consolidated financial statements does not wholly provide complete information of the company’s activities with many segments. To meet the need of the financial statement users, it is necessary to expose the segmental financial information. The main objective of the exposure of the segmental financial information is to provide information for the users about relativity scale, profit contribution and the growth trend of each company’s segments to enable the financial reports users to better evaluate the company as a whole. The preparation procedure of the segmental financial statement is provided in PSAK No.5. Segmental financial reporting is a must for the ging-public company. However, this segmental report does not preclude the whole consolidated financial statement, because a segmental repot is merely complimentary to make consolidated financial report more informative.

scholarly journals The impact of alternative assets on the performance of Brazilian private pension funds

2021 ◽  
Vol 32 (86) ◽  
pp. 314-330
Author(s):  
Francis Amim Flores ◽  
Carlos Heitor Campani ◽  
Raphael Moses Roquete
Keyword(s):  
Pension System ◽  
Hedge Fund ◽  
Pension Funds ◽  
Pension Plans ◽  
Public Utilities ◽  
Private Pension ◽  
Investment Funds ◽  
Fund Managers ◽  
Almost All ◽  
The Impact

ABSTRACT This article assesses the impact of alternative assets on the performance of Brazilian private pension funds. Few studies touch on this topic in Brazil and most only investigate the addition of alternative assets and their impact on the performance. The market of open private pension funds in Brazil has been growing rapidly in recent years and gaining much relevance, especially after the announcement of the reformulation of the Brazilian pension system. In 2018, the Free Benefit Generating Plan (PGBL) and the Free Benefit Generating Life (VGBL) represented more than 94% of total assets in their sector. The Brazilian specially constituted investment funds (FIEs) of PGBL and VGBL private pension plans are characterized by their dependence on fixed income assets. Brazil currently faces an unprecedent low interest rate scenario - which, following a worldwide panorama, seems to be set for a long time - and pension fund managers must search for alternative investments that aggregate both risk premia and diversification. The results of this study may support managers in this little-discussed matter. We compare the performance of FIEs without additional alternative assets versus the portfolio with alternative assets, adding a hedge fund index, an equity mutual funds index, a commodity index, an electric power index, a public utilities index, a gold index, and a real estate index. Several performance measures were used, considering Brazilian regulations and a rebalancing strategy. Our results showed that almost all alternative assets used in this study improved the performance of the Brazilian FIEs of PGBL and VGBL private pension plans, especially the public utilities index and the hedge fund index. Some even improved the portfolio tail risk.

scholarly journals Key audit matters in audit reports of selected public interest entities

2019 ◽  
Vol 2019 (105 (161)) ◽  
pp. 9-16
Author(s):  
Bartłomiej Iwanowicz
Keyword(s):  
Stock Exchange ◽  
Inductive Reasoning ◽  
Financial Statements ◽  
Financial Statement ◽  
Annual Reports ◽  
Synthesis Methods ◽  
Consolidated Financial Statements ◽  
Warsaw Stock Exchange ◽  
Analysis And Synthesis ◽  
Audit Reports

The main purpose of the article is to categorize key audit matters (KAM) of a financial statement and to determine the frequency of their occurrence. The research method is based on analyzing annual consolidated financial statements (annual reports) and the reports of the independent auditor, which were published in the last 12-month period available as at the day of examination (the periods mainly ended December 31, 2017, and March 31, 2018). Deductive and inductive reasoning, using analysis and synthesis methods, were used to formulate the results. The research was performed for 156 companies listed on the Warsaw Stock Exchange. The analysis covered all companies from the following ten sector indices (WIG): construction, IT, real estate, food, utilities, oil & gas, mining, energy, automotive and chemicals. Targeting the scope of the research to all entities listed within the ten sector indices (WIG), and conducting the analysis based on the latest market data, demonstrates the originality and usefulness of the article.

Sign in / Sign up

Export Citation Format

Share Document