Usage of internal statements in making consolidated financial statement

Usage of internal statements in making consolidated financial statement

The emergence of the consolidated financial statements is the result of integration processes in the businesses that lead to pooling of different companies. As consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they let you gauge...

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Bibliographic Details
Main Author: V.N. Herman
Format: Article
Language:English
Published: Zhytomyr State Technological University 2016-12-01
Series:Vìsnik Žitomirsʹkogo Deržavnogo Tehnologìčnogo Unìversitetu: Ekonomìčnì Nauki
Subjects:
they let you gauge the overall health of an entire group of companies as opposed to one company’s standalone position. Consolidation of financial statements requires from the participants of joining elaborating their individual statements. The article describes the general scheme of consolidation process and defines the key trends of consolidation adjustments
in particular
financial investments
internal operations
goodwill and exchange rate differences. It is found out that to get information about internal operations and financial investments such data have to be synthesized from internal statements. This approach allows using the same accounting methods to parent and subsidiary entities. The objects
consolidated financial statements
consolidation adjustment
internal statement
internal operation
financial investment
Online Access:http://ven.ztu.edu.ua/article/view/89241

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