scholarly journals CONSOLIDATED FINANCIAL STATEMENTS AS THE BASIS OF RELIABLE INFORMATION ON THE ACTIVITY OF INTEGRATED CORPORATE STRUCTURES OF UKRAINE

10.23856/2503 ◽  
2017 ◽  
Vol 25 (6) ◽  
pp. 28
Author(s):  
Tetyana Yakymchuk ◽  
Aija Cerpinska
Keyword(s):  
Comparative Analysis ◽  
Financial Statements ◽  
Reliable Information ◽  
Corporate Structure ◽  
Consolidated Financial Statements ◽  
Financial Reports ◽  
Structure Reporting ◽  
Three Stages ◽  
Parent Companies

 The research presents an algorithm for comparative analysis of the integrated corporate structure reporting including three stages. The proposed algorithm for comparative analysis has been tested on the example of the consolidated financial statements of sub-holding of the industrial and financial group, the financial statements of one of the main asset parent companies in Ukraine and a subsidiary of the sub-holding. It has been established that users cannot make proper conclusions and take decisions in a comprehensive way basing upon information provided in public financial reports.

scholarly journals IMPLEMENTASI PENYUSUNAN LAPORAN KEUANGAN BERDASARKAN SAK EMKM PADA UMKM PASTELLIA INTERMODA BUMI SERPONG DAMAI DENGAN MENGGUNAKAN APLIKASI SI APIK PERIODE 2018 – 2019

2021 ◽  
Vol 4 (2) ◽  
pp. 160
Author(s):  
Bettynia Dwi Orparani ◽  
Yumniati Agustina
Keyword(s):  
Comparative Analysis ◽  
Balance Sheet ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Reports ◽  
Financial Position ◽  
Income Statement ◽  
Fixed Assets ◽  
The Difference ◽  
Descriptive Method

The purpose of this study is to evaluate whether the financial statements based on SAK EMKM have been applied by Pastellia Intermoda Bumi Serpong Damai SMEs, compare the financial statements of Pastellia Intermoda Bumi Serpong Damai SMEs with Si Apik's version of the financial statements, and interpret the results of a comparative analysis which is then drawn into a conclusion. . This research method is a comparative & descriptive method. Data obtained through interviews, observation. Comparative analysis of the data by analyzing the presentation of the financial statements of Pastellia Intermoda Bumi Serpong Damai SMEs with a theory that refers to the Financial Accounting Standards for Micro, Small and Medium Entities (SAK EMKM) and comparing financial statements manually with financial reports using the Si Apik application. The results of this study are that the types of financial statements produced are statement of financial position (balance sheet), income statement and cash flow statement, and do not make notes on financial statements (CALK) so that they are not in accordance with SAK EMKM. The difference between the financial statements produced by Pastellia Intermoda Bumi Serpong SMEs and the Si Apik application is in the statement of financial position and income statement related to depreciation of fixed assets

scholarly journals PROCEDURES FOR PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

2021 ◽  
pp. 217-226
Author(s):  
Лэйля Камаровна Мусипова
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Financial Reports ◽  
Financial Reporting Standards ◽  
Business Structures ◽  
Performance Results

Помимо обычной финансовой отчетности некоторые предприятия Казахстана обязаны формировать и предоставлять консолидированную финансовую отчетность согласно требованиям международных стандартов финансовой отчетности. Статья посвящена особенностям составления и представления консолидированной отчетности в соответствии с международным стандартом финансовой отчетности 10 (IFRS) «Консолидированная финансовая отчетность». Целью исследования является рассмотреть понятие консолидированной отчетности, требования по ее составлению, порядок формирования и провести анализ потребность в составлении и представлении консолидированной финансовой отчетности. Наряду с этим представлена практика полной консолидации на условном примере с учетом требований международных стандартов финансовой отчетности, а также проблемы, с которыми сталкиваются представители бизнес-структур при формировании и представлении консолидированной финансовой отчетности. Научная новизна полученных результатов заключается в разработке приемов и методов составления и совершенствования консолидированной отчетности, которая позволит преодолеть сложности при формировании результатов деятельности за определенный отчетный период группы в целом. Along with the standard financial reports, some enterprises in Kazakhstan are required to form and submit consolidated financial reports in accordance with the requirements of international financial reporting standards. The article is devoted to the peculiarities of creating and presenting consolidated financial reports in accordance with International Financial Reporting Standard 10 (IFRS) «Consolidated Financial Reporting». The aim of the study is to examine the concept of consolidated financial statements, the requirements for its formation, and the analysis of the need for the preparation and presentation of consolidated financial statements. In addition, the practice of full consolidation was studied and presented on the example of all the consolidation requirements of IFRS 10 (IFRS) «Consolidated Financial Reporting», as well as various issues business structures deal with during the process of formation and presentation of consolidated financial statements. The scientific novelty of the results obtained is the development of techniques and methods for the preparation and improvement of consolidated reporting, which makes it possible to overcome the complexity of the formation of performance results for a certain reporting period of the group as a whole.

scholarly journals The Accounting of Consolidation Differences in the European Accounting Practice

2019 ◽  
Vol 14 (12) ◽  
pp. 102
Author(s):  
Massimiliano Celli
Keyword(s):  
Special Interest ◽  
Financial Statements ◽  
Business Practice ◽  
Consolidated Financial Statements ◽  
Empirical Survey ◽  
Accounting Practice ◽  
Regulated Markets ◽  
European Business ◽  
European Markets ◽  
Parent Companies

This paper aims at recognising the accounting methods for consolidation differences in the IAS/IFRS consolidated financial statements actually utilised by the major parent-companies listed on regulated markets in the lead EU Countries. To this end, first of all the accounting criteria for positive and negative consolidation differences in the consolidated financial statements established by IFRS 3 have been recognised. Then, a sample of No. 250 parent-companies listed on regulated European markets and that prepare their consolidated financial statements in accordance with IAS/IFRS has been selected, in order to ascertain the effective accounting methods commonly used by European business practice. Finally, some aspects of special interest that emerged from the results of the empirical survey will be analysed, together with some questions that the same results have produced.

scholarly journals Non-controlling interest in the consolidated financial statements of Dong Bac Corporation

2020 ◽  
Vol 61 (5) ◽  
pp. 125-134
Author(s):  
Thu Minh Thi Nguyen ◽  
Oanh Kim Hoang ◽  
Keyword(s):  
Theoretical Basis ◽  
Financial Statements ◽  
Consolidated Financial Statements ◽  
Important Indicator ◽  
Evaluating Methods ◽  
Investment Process ◽  
Parent Companies

In the consolidated financial statements, the non-controlling interest is an important indicator, a part of equity. The recognition of this criteria will help the consolidated financial statements become more public, transparent and accurate, and help shareholders to understand their interests in the investment process and in the capital contribution process. However, at present, the regulations on recognition of non-controlling interest are still controversial when corporations, parent companies, and groups are implemented in practice, including Dong Bac Corporation. By analyzing, synthesizing and evaluating methods, the author focuses on researching the theoretical basis of non-controlling interest, clarifying how to recognize and present non-controlling interests at the Dong Bac Corporation.

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 Assessing the existence of synergistic effect in the consolidated accounting entities in the Czech Republic

2018 ◽  
Vol 15 (2) ◽  
pp. 305-316
Author(s):  
Jaroslava Rajchlova ◽  
Anna Fedorova ◽  
Kristina Somerlikova ◽  
Libor Grega ◽  
Veronika Svatošová
Keyword(s):  
Czech Republic ◽  
Synergistic Effect ◽  
Financial Statements ◽  
Cost Ratio ◽  
Data Correlation ◽  
Consolidated Financial Statements ◽  
Statistical Population ◽  
The Czech Republic ◽  
Return On Equity ◽  
Parent Companies

The objective of the research was to identify possible positive synergistic effect of concerns. Because of the advantages of the existence of consolidated financial statements, the focus is on the Czech consolidated groups.Consolidated financial statements of 719 groups of accounting entities – concerns in the Czech Republic were studied, i.e., the statistical population consisted of 719 reporting units, which can be considered as the total population of all published consolidated financial statements. Following economic indicators were analyzed to discover the existence of positive synergistic effect: cash position ratio, return on equity, return on sales.Based on the research, it the authors concluded that return on equity revealed dependency between change in the value of the indicator of the parent company and consolidated unit. Values of this indicator are interesting from the investment point of view. They confirm success of capital acquisitions.Cash ratio monitoring revealed an inconsistent environment, unambiguous data correlation between the group data and the individual financial statements of the parent companies.Return on sales indicator showed that consolidated groups had reached higher values of the indicator, i.e., lower total cost ratio than parent companies. Data correlation was found at the low level, i.e., the parent companies did not influence consolidated data.Acquisition companies in the Czech Republic in the period 2008–2013 generated positive financial synergy. For financial indicator of return on equity, dependence between consolidated groups and parent companies was confirmed. Positive financial synergy was found out for all monitored financial indicators.

scholarly journals Environmental information in the consolidated financial statements of selected energy companies in Poland – a comparative analysis

2020 ◽  
Vol 110 (166) ◽  
pp. 77-104
Author(s):  
Iwona Majchrzak ◽  
Bożena Nadolna
Keyword(s):  
Comparative Analysis ◽  
Financial Reporting ◽  
Natural Environment ◽  
Financial Statements ◽  
Energy Sector ◽  
Environmental Information ◽  
Publicly Traded ◽  
Consolidated Financial Statements ◽  
Publicly Traded Companies ◽  
Energy Companies

Purpose: The article compares the scope and place of disclosure of valuable environmental information in the annual consolidated financial statements of the largest listed companies in Poland's energy sector. Methodology/approach: The empirical study used content analysis of the consolidated statements of the examined entities and comparative analysis. Results: The study showed that the largest publicly traded companies in the energy sector disclose similar groups of environmental information, but where they were presented and the detailed content were more varied. The information is presented in different parts of the financial statements, often in several different layouts and forms. Due to this approach, users of financial statements are required to group and compile the information on their own in order to compare it. This is not conducive to the transparency and some-times even the credibility of comparative environmental information between individual companies. Thus, it may negatively impact investor decisions. Research limitations/implications: This study should be extended to compare the published environmen-tal information contained in the consolidated financial statements of companies from other industries whose activities have a significant impact on the natural environment. Originality/value: The research is innovative, as it indicates the scope of valuable information in the field of the natural environment that should be taken into account when standardizing the financial reporting of companies.

scholarly journals Teaching Consolidations Accounting: An Approach To Easing The Challenge

2010 ◽  
Vol 3 (11) ◽  
pp. 101-110
Author(s):  
Elizabeth A. Murphy ◽  
Mark A. McCarthy
Keyword(s):  
Teaching And Learning ◽  
Financial Statements ◽  
Parent Company ◽  
Consolidated Financial Statements ◽  
Consolidation Process ◽  
The Cost ◽  
Parent Companies ◽  
Accounting Approaches ◽  
Company Accounts

Teaching and learning accounting for consolidations is a challenging endeavor. Students not only need to understand the conceptual underpinnings of the accounting requirements for consolidations, but also must master the complex accounting needed to prepare consolidated financial statements. To add to the challenge, the consolidation process is dependent on how the parent company accounts for the investment on its parent company ledgers. Parent company ledgers either use the cost method or some variation of the equity method to account for investments to be consolidated. The variety in those accounting approaches used by parent companies is comparable to the variety of approaches to teach consolidations that are presented in advanced accounting textbooks, as documented by Luehlfing (1995). Luehlfing outlines the parent company accounting methods that are presumed to be used to teach consolidation accounting in each of the existing U.S. advanced accounting texts, noting that authors promote one method over others.  Luehlfing suggests that students should be provided with a comparison of the parent company entries under the cost method and each adaptation of the equity method so that they can obtain a better understanding of the differences in the consolidation worksheet elimination/reclassification entries.  Rather than having students learn different consolidation worksheet entries as a result of different recording methods used by the parent for an investment requiring consolidation, an approach can be adopted so that students only need to learn one set of consolidation worksheet entries to develop consolidated financial statements. In addition, a method of analyzing the parent’s investment account can be used to not only help understand the conceptual issues associated with consolidation accounting, but also greatly facilitate the mechanics of preparing the consolidation worksheet entries.  

scholarly journals Financial reporting practices of Serbian corporate groups: Compliance with global professional regulations

2020 ◽  
Vol 68 (5-6) ◽  
pp. 354-368
Author(s):  
Marina Vasilić
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Structure Type ◽  
Consolidated Financial Statements ◽  
Corporate Managers ◽  
Corporate Groups ◽  
Reporting Practices ◽  
Specific Factors ◽  
Market Pressures ◽  
Parent Companies

In this study, we analyze compliance with global professional regulations on a sample of Serbian joint-stock parent companies, focusing on the selected disclosures in their consolidated financial statements. Providing relevant and transparent information on the corporate group as a whole, consolidated financial statements are proclaimed to be useful information sources for the existing and potential capital providers of parent companies. Conformity with global professional accounting regulations is seen as an important prerequisite of high-quality financial reporting. However, country and entity-specific factors remain influential, resulting in financial statements of differing features. Lacking intense regulatory and market pressures, the management of Serbian corporate groups appears not to be strongly committed to achieving prime-quality disclosures in consolidated financial statements. We find that the differences in compliance levels of analyzed companies could be explained by the differences in the size of the parent company, its ownership structure, type of auditor and profitability of the group. The results of our research may be useful for investors, corporate managers, regulators and future researchers looking at the quality of consolidated financial reporting.

The Reporting Entity in Private-Public Accounting Harmonisation. Is Control Enough for the Local Government Consolidated Financial Statements?

2017 ◽  
pp. 5-29 ◽  
Author(s):  
Cristian Carini ◽  
Laura Rocca ◽  
Claudio Teodori ◽  
Monica Veneziani
Keyword(s):  
Public Sector ◽  
Local Government ◽  
Accounting Standards ◽  
Financial Statements ◽  
Consolidated Financial Statements ◽  
The Public ◽  
Financial Accountability ◽  
Public Sector Accounting ◽  
Definition Of ◽  
Reporting Entity

The European Commission initiated a discussion on the expediency of using the International Public Sector Accounting Standards (IPSAS), based on the IAS/IFRS, as a common base for harmonizing the public sector accounting systems of the member states. However, literature suggests that accounting is not neutral with respect to the economic, social and political dimensions. In the perspective of evolution of the accounting regulation outlined, balanced between accountability, with the need to represent phenomena for reporting pur-poses, and decisionmaking issues, which concentrates on the quantitative importance of the values, the paper aims to analyse the effects of the application of different criteria for the definition of the reporting entity of the local government consolidated financial statements (CFS). The Italian PCA 4/4, the test of control and the financial accountability approaches are examined. The evidence that emerged from the case studies examined identifies several criticalities in the Italian PCA 4/4 and support the thesis that the financial accountability approach is more effective in providing a complete representation of the public resources entrusted to and managed by the group, whereas the control approach better approximates quantification of the group results in terms of central government surveillance. The analysis highlights the importance of the post implementation review period and the opportunity to contextualize the adoption of the consolidated financial statement in the broader spectrum of the accounting harmonization process, participating in the process of definition of the European Public Sector Accounting Standards (EPSAS).

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