Usage of internal statements in making consolidated financial statement
Journal Title: Вісник Житомирського державного технологічного університету. Серія: економіка, управління та адміністрування - Year 2016, Vol 78, Issue 4
Abstract
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 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, the users and the subject domain of internal statements are determined in order to make consolidation of financial statements of joining.
Authors and Affiliations
V. N. Herman
Keywords
Related Articles
- EP ID EP271054
- DOI -
- Views 106
- Downloads 0
Government control of unemployment and migratory processes (on the example of Zhytomyr area)
The problems of the Ukrainian labour market, especially the level and descriptions of youth unemployment, the accelerations of migratory processes during the last years became the basic indices of the deep crisis in the...
Investment risks in the economic system of enterprise
The purpose of this paper is to conduct the comprehensive analysis of the impact of investment risks on the business entities and the search for effective mechanisms to overcome them or minimize. Any entity that runs bus...
Forecasting methods of agricultural enterprise failure probability
The article suggests the main evaluation models of enterprise failure probability. The advantages and disadvantages of enterprise failure probability multifactor models are determined. The author offers the agricultural...
Мultinational corporations in John Kenneth Galbraith’s theory of firm
The paper is aimed at the study of the ideological origins of multinational corporations from the perspective of the theory of firm by John Kenneth Galbraith. It has been established that the theory of firm by J.K. Galbr...
Modern approaches to development of leadership for civil service Ukraine
The article is devoted to the consideration of modern approaches to the development of leadership in the civil service, as one of the benchmarks for improving the efficiency of public administration, in particular, the p...