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Journal articles on the topic 'Czech consolidated financial statements'

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Published: 28 June 2021
Last updated: 15 February 2022

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1

Rajchlova, Jaroslava, Anna Fedorova, Kristina Somerlikova, Libor Grega, and Veronika Svatošová. "Assessing the existence of synergistic effect in the consolidated accounting entities in the Czech Republic." Investment Management and Financial Innovations 15, no. 2 (June 22, 2018): 305–16. http://dx.doi.org/10.21511/imfi.15(2).2018.27.

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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.
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2

Rajchlová, Jaroslava, Anna Fedorová, Kristina Somerlíková, and Libor Grega. "Assessment of Impact of Capital Acquisitions on the Economic Situation of Consolidated Entities in the Czech Republic." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 67, no. 5 (2019): 1335–45. http://dx.doi.org/10.11118/actaun201967051335.

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Business acquisition constitutes a fundamental aspect of business environment formation. Our research has focused on assessment of impact of capital acquisition on the economic condition of the company. Therefore, the second research level has been initiated, focusing on the individual assessment of the single companies to identify allocation of synergy between consolidated units and parent companies in the Czech Republic. For our research, taking into consideration availability of data and subsequent explanatory value of the results, we will consider synergistic effect as presented in the Ansoff’s concept. Consolidated financial statements of totally 719 groups of accounting entities – business concerns in the Czech Republic has been studied in the research. A composite indicator, as the modern tool for comparison and evaluation of development of entities, has been selected to compare individual economic indicators of parent companies and group of their companies. We believe that developed arguments allow us to formulate conclusion that capital acquisitions, resulting in the years 2008–2013 in the obligation to compile consolidated financial statement, have brought positive financial synergistic effects in majority of cases, and we can rank them among successful business activities.
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3

Gláserová, Jana, Milena Otavová, Anna Bušovová, and Eliška Dřínovská. "Impact of Transposition of the Directive 2013/34/EU into the National Laws of EU Member States Emphatically V4." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 65, no. 2 (2017): 631–39. http://dx.doi.org/10.11118/actaun201765020631.

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The European Union has published the Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings for reasons of increasing of the competitive advantage and productivity of small and medium‑sized enterprises. The EU Member States have to incorporate the rules of the Directive with their national law by 20 July 2015 at the latest during the year 2016. The intention of this paper is to determine and to evaluate the impacts of transposition of the Directive into the Czech Accounting Law and into the national accounting laws of EU Member States chosen. There is an identification of main differences of Czech Accounting Law and of amended Czech Accounting Law issued 1st of January 2016. There is an impact of implementation of the Directive 2013/34/EU on financial statements and at the same time on requirements of audit for individual categories of Czech accounting entities. In this paper, there is also an analysis of impact of the Directive 2013/34/EU on national accounting laws V4 States and on several further EU Member States. On the basis of comparison of differences recognized, there is an deduction of findings for companies falling into the same group.
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4

GAVUROVA, Beata, Jaroslav BELAS, Kristina KOCISOVA, and Tomas KLIESTIK. "COMPARISON OF SELECTED METHODS FOR PERFORMANCE EVALUATION OF CZECH AND SLOVAK COMMERCIAL BANKS." Journal of Business Economics and Management 18, no. 5 (October 27, 2017): 852–76. http://dx.doi.org/10.3846/16111699.2017.1371637.

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The successful development of economy is based on the efficient and stable performance of commercial banks. A broad range of methods is used to evaluate them. Each method has its own specific features and logic, which results in the existence of discrepancies in the results of their evaluation. For this reason, as well as due to the elimination of model risk, numerous methods are recommended in practice to detect multidimensional disproportions in bank performance and to create a comparator base. This led to the realization of the research aimed at assessing the performance of selected Czech and Slovak banks by applying several methods and evaluating the process and outcome differences of these methods. The data were obtained from the non-consolidated financial statements published in the annual reports of the evaluated banks. The analysis showed that all methods have roughly the same results. Almost perfect correlation had been found not only among the methods of multi-criteria evaluation, but also among the other investigators.
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5

Bohušová, Hana. "Construction contract revenue recording comparison." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 56, no. 3 (2008): 241–50. http://dx.doi.org/10.11118/actaun200856030241.

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Publicly traded companies prepare their consolidated accounts in conformity with the international accounting standards (IAS/IFRS) in accordance with the Regulation No. 1606/2002. This is obliged for all publicly traded joint-stock companies in the Czech Republic. Other companies prepare financial statements in accordance with national accounting standards. There are Accounting Act No. 563/1991 of Coll. and Regulation No. 500/2002 of Coll., Czech Accounting Standards in the Czech Republic. Both systems are based on different principles so there are many differences. The Czech Accounting System (CAS) is based on the rules while IAS/IFRS are based on principles (Kovanicová, 2005). These differences are mainly caused by the different philosophy. CAS prefers the fiscal policy to the economic substance while IAS/IFRS prefere the economic substance. One of the most significant dif­fe­ren­ces is in the field of revenue recording. There are two standards concerning the revenues recording (IAS 18 − Revenue, IAS 11 – Construction Contracts) in IAS/IFRS. CAS 019 – Expenses and Revenue are dealing with the revenue recording in the Czech Republic. The paper is aimed at the comparison of the methodical approaches for revenue recording used by IAS/IFRS and by CAS. The most important differences are caused by the different approach to the long term contracts (construction contracts, software development contracts) revenues recording.
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6

Loveday, Paula. "Consolidated Financial Statements." Australian Economic Review 26, no. 4 (October 1993): 88–92. http://dx.doi.org/10.1111/j.1467-8462.1993.tb00814.x.

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7

Korotaev, Sergey. "Preparation and Audit of Consolidated Statements in Belarus: Status, Problems, Prospects." Buhalterinės apskaitos teorija ir praktika, no. 17-18 (October 1, 2018): 43–56. http://dx.doi.org/10.15388/batp.v0i1.11952.

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[full article, abstract in English] The study purpose is development of a methodology for preparation of consolidated financial statements in the context of harmonization of the national system of accounting and preparation of statements with IFRS norms and principles. Study objectives: a) analysis of normative legal acts governing the preparation of consolidated financial statements in Belarus; b) identification of problematic issues arising during preparation of consolidated financial statements in accordance with the national legislation; c) development of specific proposals for improving the methodology for preparation of consolidated statements; d) analysis of the practice of audit of consolidated financial statements prepared in accordance with the national legislation and IFRS. In order to achieve tasks assigned, the author analyzes national normative legal acts that regulate the preparation of consolidated financial statements, examines specific consolidation mechanisms that raise questions among authors of statements, identifies approaches to resolving problematic consolidation issues, identifies reasons that prevent the preparation of reliable statements, as well as reasons for their non-preparation. Investigation of issues related to preparation of consolidated statements is linked to problematic issues of audit of such statements. The conclusion includes proposals for improvement of organization and clarification of the methodology for preparation of consolidated statements, as well as proposals for amending the legislation on audit activities on issues related to the audit of consolidated accounting statements.
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8

Мусипова, Лэйля Камаровна. "PROCEDURES FOR PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS." Вестник Тверского государственного университета. Серия: Экономика и управление, no. 2(54) (June 25, 2021): 217–26. http://dx.doi.org/10.26456/2219-1453/2021.2.217-226.

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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.
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9

Xia, Lian Feng. "Scope Changes Impact on Book Performance of Consolidated Financial Statements." Applied Mechanics and Materials 380-384 (August 2013): 4494–99. http://dx.doi.org/10.4028/www.scientific.net/amm.380-384.4494.

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Currently, listed companies in our country generally draw up consolidated financial statements according to the new accounting standards requirements, and release consolidated financial statement to investors and relevant financial statements users so as to public company financial information. Consolidated financial statements can comprehensively reflect the financial position and operating results of listed companies. The key basic work of consolidated financial statements preparation is to reasonably determine the consolidation range of consolidated financial statements. Although the current new accounting standards have stipulated consolidation range, the new accounting standards has not specified the substantial control of concrete measurement method problem. So this paper takes one listed companys financial report and related data from 2007 to 2011 as data sources,selects listed enterprises with no clear merger reason as research object. Multivariate linear regression model is adopted to analyze the influence of merge scope change on book performance. The results show that the consolidated range change will change enterprises book report data,and the influence average value of book achievement is about 10.72%.
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10

Zelenka, Vladimír. "Typology of Concepts of Consolidated Financial Statements." Český finanční a účetní časopis 2012, no. 1 (March 1, 2012): 52–63. http://dx.doi.org/10.18267/j.cfuc.302.

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11

Nikodijevic, Marija. "The obligation to prepare consolidated financial statements." Ekonomski izazovi 2, no. 4 (2013): 112–23. http://dx.doi.org/10.5937/ekoizavov1304112n.

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12

Gordon, Paul D. "Consolidated financial statements: Concepts, issues and techniques." British Accounting Review 21, no. 3 (September 1989): 298–99. http://dx.doi.org/10.1016/0890-8389(89)90110-8.

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13

Pacter, Paul. "Consolidated financial statements: New FASB ground rules?" Journal of Corporate Accounting & Finance 3, no. 2 (1991): 147–66. http://dx.doi.org/10.1002/jcaf.3970030202.

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14

Zelenková, Marie. "Items Reported in Individual Financial Statements Differently in Comparison of Consolidated Financial Statements." Český finanční a účetní časopis 2012, no. 2 (June 1, 2012): 36–54. http://dx.doi.org/10.18267/j.cfuc.312.

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15

Pelekh, U. V., Z. I. Tenyukh, and N. V. Khocha. "Analyzing the Methods and Organizational Bases of Preparing the Consolidated Financial Statements." Business Inform 4, no. 519 (2021): 168–75. http://dx.doi.org/10.32983/2222-4459-2021-4-168-175.

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The article provides a theoretical substantiation and an analysis of the methods and organizational bases for the preparation of consolidated financial statements. The essence of the concept, purpose, regulatory support of consolidation of financial statements are considered. Conceptual principles of consolidation methods application, which are generalized and studied: continuity and systematicity, essentiality, unified methods of valuation, unified date of preparation of consolidated financial statements, unified accounting policy, unified currency. The main requirements for the preparation of the consolidated financial statements are displayed. The main stages of consolidation of financial statements are provided. The main methods of consolidation of financial statements are analyzed: full consolidation, proportional consolidation, share participation method. The defining problems that arise at the stage of preparation and submission of consolidated financial statements are systematized as follows: the reporting methodology is rather complex, there is no clear instrumentarium for the practical application of the IFRS requirements, known inconsistencies between the IFRS and the current legislation of Ukraine (the IFRS requires additional disclosure), slow operational responsiveness of consolidated statements, the use of different software products for operational and financial management, the lack of qualified personnel, and the inconsistency of the accounting methods. Additional problems are identified by the following: complexity of normative regulation; complexity of organizing the accounting process; complexity of collecting and structuring credentials in order to compare them; supported multicurrency; impossibility to determine the contribution of a particular company to the general indicators of the group; difficulty in determining the amount of unrealized profit and equity participation shares; high labor intensity and duration of reporting; lack of methodology for analyzing consolidated statements. It is concluded that further research is needed to solve existing problems.
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16

Heo, Kyongsun, and Seoyoung Doo. "Segment Reporting Level And Analyst Forecast Accuracy." Journal of Applied Business Research (JABR) 34, no. 3 (May 7, 2018): 471–86. http://dx.doi.org/10.19030/jabr.v34i3.10170.

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In a setting where the primary financial statements have been converted from individual financial statements to consolidated financial statements in Korea, we examine the effect of segment information disclosed by the firm on analysts’ consolidated-base earnings forecast accuracy. Since Korean firms have prepared the primary financial statements on a non-consolidated basis in the pre-IFRS regime, the adoption of International Financial Reporting Standards (IFRS) leads to a great deal of difficulties and complexities in making accurate consolidated forecasts for users of financial statements, even for financial analysts who are sophisticated users of financial statements. In this situation, we conjecture that the amount of details and types of information in segment disclosure will influence analysts’ forecast accuracy. Consistent with the prediction, we find that financial analysts are able to make more accurate earnings projections when firms provide more disaggregated accounting figures by each segment. Moreover, we find that analysts can make forecasts more accurately when firms disclose more persistent earnings component (i.e., segment operating income). Furthermore, we find that the effect of the segment disclosure levels on analysts’ forecast accuracy is more pronounced for firms with multi-segments. Our results indicate that disaggregated segment information is a useful source for financial analysts to have better understanding about complete picture of firms’ consolidated earnings and improve their forecasting performance.
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17

Пальгуева and T. Palgueva. "Formation Process Model of Consolidated Financial Statements in Insurance Companies." Auditor 2, no. 2 (February 11, 2016): 41–48. http://dx.doi.org/10.12737/17952.

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This article deals with formation process of consolidated financial statements in insurance companies. The authors analyses the main stages of formation of consolidated statements, gives recommendations for their optimization.
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18

Drutskaya, M. V., and N. A. Karpova. "Analytical options of consolidated financial statements to characterize financial stability." International Accounting 21, no. 12 (December 14, 2018): 1383–98. http://dx.doi.org/10.24891/ia.21.12.1383.

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19

Zhu, Xiu Fang. "A Mathematical Model of Foreign Trade Enterprise Consolidated Financial Statement." Applied Mechanics and Materials 380-384 (August 2013): 4804–8. http://dx.doi.org/10.4028/www.scientific.net/amm.380-384.4804.

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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%.
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20

Issakova, S. A., A. Sh Moldabekova, M. T. Kenzhebayeva, V. N. Аlibekova, and G. T. Tuleyeva. "Preparing Consolidated Financial Statements in Accordance with IFRS." EUROPEAN RESEARCH STUDIES JOURNAL XX, Issue 3A (November 1, 2017): 458–69. http://dx.doi.org/10.35808/ersj/721.

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21

Cîrstea, Andreea. "The Need for Public Sector Consolidated Financial Statements." Procedia Economics and Finance 15 (2014): 1289–96. http://dx.doi.org/10.1016/s2212-5671(14)00590-5.

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22

Blomrnaert, Jos. "Preparation and information content of consolidated financial statements." European Accounting Review 5, no. 2 (January 1996): 383–87. http://dx.doi.org/10.1080/09638189600000023.

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23

Vuković, Bojana, and Luka Filipović. "Interest of minority shareholders in consolidated financial statements." Ekonomski pogledi 16, no. 4 (2014): 45–59. http://dx.doi.org/10.5937/ekopog1404045v.

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24

Arcady, Alex T., and Daniel Hugo. "Understanding the latest changes in consolidated financial statements." Journal of Corporate Accounting & Finance 10, no. 4 (1999): 39–53. http://dx.doi.org/10.1002/(sici)1097-0053(199922)10:4<39::aid-jcaf4>3.0.co;2-8.

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25

Vasilić, Marina. "Financial reporting practices of Serbian corporate groups: Compliance with global professional regulations." Ekonomika preduzeca 68, no. 5-6 (2020): 354–68. http://dx.doi.org/10.5937/ekopre2006354v.

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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.
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26

Isaković-Kaplan, Ševala. "Consolidated Financial Statements – Means and Purpose of Preparation: Reasons of Not Announcing of consolidated Financial Statements in Bosnia and Herzegovina." Economic Research-Ekonomska Istraživanja 23, no. 4 (January 2010): 162–71. http://dx.doi.org/10.1080/1331677x.2010.11517440.

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27

Sánchez-Serrano, José Ramón, David Alaminos, Francisco García-Lagos, and Angela M. Callejón-Gil. "Predicting Audit Opinion in Consolidated Financial Statements with Artificial Neural Networks." Mathematics 8, no. 8 (August 5, 2020): 1288. http://dx.doi.org/10.3390/math8081288.

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The models for predicting audit opinion analyze the variables that affect the probability of obtaining a qualified opinion. This helps auditors to plan revision procedures and control their performances. Despite their apparent relevance, existing models have only focused on the context of individual financial statements and none have referred to consolidated financial statements. The consolidated information is essential for decision-making processes and understanding the true financial situation of a company. Our objective is to provide a new audit opinion prediction model for consolidated financial statements. To this end, a sample of group of Spanish companies was chosen and an artificial neural network technique, the multilayer perceptron, was used. The results show that the developed method managed to predict the audit opinion with accuracy above 86%. Moreover, there exist important differences concerning the most significant variables in the audit opinion prediction for individual accounts, since when using consolidated financial statements, the variables referring to industry, group size, auditor, and board members were converted into the main explanatory parameters of the prediction.
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28

Kim, Jeong Ho, and Chae Chang Im. "Reported Profits And Effective Tax Rate Following Accounting Standards Changes Analysis Of Consolidated Financial Statements And Separate Financial Statements." Journal of Applied Business Research (JABR) 33, no. 6 (October 31, 2017): 1171–86. http://dx.doi.org/10.19030/jabr.v33i6.10053.

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This study empirically examines how the adoption of IFRS affected the reported profits and effective tax rates of firms by analyzing consolidated financial statements and separate financial statements. Firms that adopted IFRS in 2011 were required to disclose consolidated financial statements and separate financial statements in both K-IFRS and K-GAAP for this period. We conjecture that there will be a difference in the reported profits and effective tax rates between the financial statements that adopt the two different accounting standards. This study will provide policy implications with regards to the recent IFRS adoption and the use of accounting standards. The findings of this study are as follows. First, we find that the effective tax rate and corporate tax expenses decreased after the adoption of K-IFRS from K-GAAP. Earnings Before Tax (EBT) and net income also decreased when reported in K-IFRS. When we divide the total sample into the listed firms and KOSDAQ firms, we found a significant difference between the accounting standards in the total sample and listed firms, but did not see such a difference in KOSDAQ firms. In addition, results from the analysis of separate financial statements were analogous to those from consolidated financial statements. Additional analyses examined the effect of the early adoption of IFRS, but a significant influence due to early adoption was not found in consolidated financial statements from both parametric and non-parametric tests. However, the effective tax rate did decrease in the separate financial statements of firms that adopted K-IFRS earlier. The implementation of K-IFRS (changes in accounting standards) has made the managerial performance of firms accounted for in the Equity Method to be reflected in EBT and net income. This entailed an increase (or decrease) in the Equity Method profit, which in turn increased reported profits and decreased effective tax rates. In other words, the total increase of reported profits in consolidated financial statements can be attributed to subsidiary companies. However, the adoption of IFRS also reduced the tax burden, which is considered to be the motivation for firms to adopt IFRS in advance. This article attempts to provide policy implications with regards to the adoption of new accounting standards and its influence on the corporate tax expenses and effective tax rates in listed firms and KOSDAQ firms.
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Неелова and Natalia Neelova. "Institute of the consolidated financial statements in the Russian Federation." Auditor 2, no. 5 (May 25, 2016): 19–29. http://dx.doi.org/10.12737/18013.

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Th e article gives the classifi cation of organizations, which prepare consolidated fi nancial statements in the Russian Federation in accordance with the legal system and constituent documents and initiative. Th e author considers the requirements of legal and government regulations for the preparation procedure, audit, extension, publishing and keeping of the consolidated fi nancial statements by these organizations.
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30

Plotnikova, Olesya, and Viktor Plotnikov. "Concept of preparation financial statements: concept consolidated financial statements and international concept of integrated reporting." Auditor, no. 22 (October 25, 2014): 42–50. http://dx.doi.org/10.12737/12828.

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31

Kogdenko, V. G. "A methodology for financial modeling based on published consolidated financial statements." Economic Analysis: Theory and Practice 16, no. 7 (July 27, 2017): 1269–85. http://dx.doi.org/10.24891/ea.16.7.1269.

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32

Watrin, Christoph, Nadine Ebert, and Martin Thomsen. "Book-Tax Conformity and Earnings Management: Insights from European One- and Two-Book Systems." Journal of the American Taxation Association 36, no. 2 (March 1, 2014): 55–89. http://dx.doi.org/10.2308/atax-50769.

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ABSTRACT: There is an ongoing debate in the U.S. about the effect of book-tax conformity on earnings management in consolidated statements. Although both one- and two-book systems are present in Europe, European data have not been used to contribute to this debate. In this study, we examine the influence of one- and two-book systems on earnings management using consolidated statements and single financial statements of European firm-years from 2004 to 2011. A one-book system is defined as a situation in which financial accounting income and taxable income are highly conformed, whereas a two-book system is characterized by differences between consolidated financial income and taxable income. We find that firms in one-book systems show significantly more (downward) earnings management in their consolidated statements than do firms in two-book systems. With these findings, we contribute to the U.S. policy debate on book-tax conformity and earnings management.
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33

Dmytrenko, I. M., and N. V. Shaimukhometova. "Consolidation of Specific Items of Financial Statements of Company Group: Principles, Conditions and Features." Statistics of Ukraine 87, no. 4 (March 12, 2020): 117–28. http://dx.doi.org/10.31767/su.4(87)2019.04.12.

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The impact of the adequacy of the application of the basic principles, conditions and order of consolidation by a company group, to ensure the reliability of the most specific items of financial statements, is considered as a subject matter of internal and external auditors. The components of the consolidated financial statements, its structural elements, specific items and a set of necessary disclosures in the notes are distinguished on the basis of comparative analysis. The conditions for the parent company’s control as an investor over the activities of its subsidiaries as an investee for the purpose of applying the consolidation procedure are systematized. The prerequisites for ensuring the reliability of the consolidated reporting information are generalized. The characteristics of these prerequisites are given in view of the parent company’s ownership of a certain share of the net assets of the subsidiaries at the reporting date and its investments in the subsidiaries during the reporting year with their inclusion in the book value. The necessary emphasis is placed on the proper disclosure of information about all subsidiaries in accordance with the principles of financial reporting. The subject area of internal and external audit is analyzed with focus on the most specific items of the consolidated financial statements: uncontrolled interest, goodwill and intra-group transactions. The factors for minimizing the risk of distortion at the level of individual articles and the consolidated financial statements of a company group as a whole are identified. The instruments of ensuring the proper degree of completeness and reliability of disclosure in the consolidated statements of a company group in accordance with the requirements of international financial reporting standards are considered. In particular, the specificity of the disclosure of the influence of related parties on the profit, loss and financial position of the group is discussed. The pragmatic value of disclosures is determined in view of providing users with consolidated financial statements that are transparent and relevant to economic decision making.
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34

Sotti, Francesco. "The role of non-controlling interests in the value relevance of consolidated financial statements." Corporate Ownership and Control 15 (2017): 435–43. http://dx.doi.org/10.22495/cocv15i1c2p12.

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Based on a sample of European listed companies, the present study has investigated value relevance of consolidated financial statements prepared according to IASs/IFRSs and whether presence or absence of non-controlling interests is relevant to capital markets investors. Several previous studies deal with value relevance of consolidated annual reports, but none of them considered the influence of non-controlling interests on investor’s choices. To analyze if and how minority shareholders presence can affect investors’ choices, we have analyzed the value relevance of consolidated financial statements with minorities and, on the other side, annual reports from groups without non-controlling interests. To do it, we have used a valuation framework based on Ohlson theory and we have tested our hypothesis through an Ohlson derived price model. Findings provide evidence that consolidated financial statements prepared according to IASs/IFRSs are value-relevant. Moreover, contrary to expectations, financial information related to non-controlling interests is not so significant to investors’ choices.
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35

Nurnberg, Hugo. "Minority Interest in the Consolidated Retained Earnings Statement." Accounting Horizons 15, no. 2 (June 1, 2001): 119–46. http://dx.doi.org/10.2308/acch.2001.15.2.119.

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Consolidated financial statements purport to report income, financial position, and cash flows of a parent company and its subsidiaries as if the group were a single company with one or more branches or divisions. Under the parent company theory, the consolidated entity perspective assumed in the consolidated income statement, the consolidated balance sheet, and the consolidated retained earnings statement differs from the consolidated entity perspective assumed in the consolidated cash flow statement. Even under extant expositions of the entity theory, the consolidated entity perspective assumed in the consolidated income statement, the consolidated balance sheet, and the consolidated cash flow statement differs from the consolidated entity perspective assumed in the consolidated retained earnings statement. This paper develops a consistent consolidated entity perspective for all four consolidated financial statements. It demonstrates that under the entity theory, consolidated retained earnings includes the separate equities of both the parent company stockholders and the minority interest. As such, both elements of retained earnings should be reported in the consolidated retained earnings statement to make it comparable to the consolidated retained earnings statement of companies without subsidiaries or with only wholly owned subsidiaries. The effect on certain financial ratios of public companies may be substantial. The paper also demonstrates that for purchased subsidiaries, minority interest in consolidated retained earnings includes unamortized write-ups of identifiable net assets and goodwill arising from purchase-type business combinations.
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36

Gierusz, Jerzy, and Katarzyna Koleśnik. "The influence of culture on disclosures in financial statements prepared under International Financial Reporting Standards." Zeszyty Teoretyczne Rachunkowości 2019, no. 101 (157) (March 25, 2019): 111–32. http://dx.doi.org/10.5604/01.3001.0013.0758.

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The primary objective of this article is to investigate the impact of culture (as measured by Hofstede) on disclosures in financial statements prepared under International Financial Reporting Standards (IFRS) by firms from different countries. The sample comprises 2011−2013 consolidated financial statements of stock companies (excluding banks, insurance, and other financial institutions) from four countries repre- senting different cultural areas: the United Kingdom (Anglo), Germany (Germanic), Poland (Central Eastern Europe; CEE) and Kuwait (Arab). The research material came from 312 annual consolidated financial statements from 104 companies. The results reveal that cultural values have a significant impact on financial disclosures even after the use of IFRS. The paper is one of the few comparative studies attempting to assess the effects of culture on financial disclosures in Western Europe countries, CEE countries and Arab countries. Most of the international comparative studies in this research area have neglected CEE and Arab countries.
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Bokšová, Jiřina, Josef Horák, and Monika Randáková. "Financial Statements of Companies in the Czech Republic." Procedia Economics and Finance 34 (2015): 430–36. http://dx.doi.org/10.1016/s2212-5671(15)01651-2.

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38

Deaconu, Sorin-Constantin. "Restatements And Adjustemnts In Elaboration Of Consolidated Financial Statements." Annales Universitatis Apulensis Series Oeconomica 2, no. 13 (December 31, 2011): 249–53. http://dx.doi.org/10.29302/oeconomica.2011.13.2.7.

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39

Yun, Yongsuk. "Consolidated Financial Statements Audit Hour Disclosure and Audit Quality." Korean Data Analysis Society 22, no. 4 (August 30, 2020): 1631–42. http://dx.doi.org/10.37727/jkdas.2020.22.4.1631.

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40

Santis, Serena, Giuseppe Grossi, and Marco Bisogno. "Public sector consolidated financial statements: a structured literature review." Journal of Public Budgeting, Accounting & Financial Management 30, no. 2 (June 4, 2018): 230–51. http://dx.doi.org/10.1108/jpbafm-02-2018-0017.

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Purpose The purpose of this paper is to review and analyze the literature on consolidated financial statements (CFS) in the public sector published from 1980 to 2015 in public sector accounting and management journals, and propose a future research agenda. Design/methodology/approach Adopting a structured literature review methodology, the authors investigate how the CFS literature is developing and what its focus is. Findings The authors identify five major topics: the definition of the consolidation area; the identification of the reporting entity; the private vs public sector accounting standard dichotomy; the relationship with the statistical rules; and the usefulness of CFS. Originality/value The authors analyze these topics, highlighting the growing implementation of CFS in different contexts (mainly focusing on governments outside the USA) and provide suggestions for future research.
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41

Carini, Cristian, and Claudio Teodori. "Debate: Public sector consolidated financial statements—the hybrid approach." Public Money & Management 41, no. 6 (February 17, 2021): 432–33. http://dx.doi.org/10.1080/09540962.2021.1883286.

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42

Celli, Massimiliano. "The Accounting of Consolidation Differences in the European Accounting Practice." International Journal of Business and Management 14, no. 12 (November 8, 2019): 102. http://dx.doi.org/10.5539/ijbm.v14n12p102.

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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.
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43

Majchrzak, Iwona, and Bożena Nadolna. "Environmental information in the consolidated financial statements of selected energy companies in Poland – a comparative analysis." Zeszyty Teoretyczne Rachunkowości 110, no. 166 (December 20, 2020): 77–104. http://dx.doi.org/10.5604/01.3001.0014.5551.

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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.
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Łazarowicz, Edyta. "The comparability of IFRS statements of cash flows in Poland. The influence of national regulations." Zeszyty Teoretyczne Rachunkowości 2019, no. 101 (157) (March 25, 2019): 149–66. http://dx.doi.org/10.5604/01.3001.0013.0760.

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This paper analyses the comparability of the structure and content of IFRS consolidated statements of cash flows within Polish listed companies and the influence of national accounting rules on these statements. Two research methods have been used: a literature review and an analysis of the content of financial statements. It has been found that there are small differences in the structure and content of IFRS consolidated statements of cash flows in Poland. The results indicate that the options in IAS 7 and the lack of an obligatory format of the IFRS statement of cash flows do not significantly reduce the comparability of these statements in Polish practice. Moreover, it has been observed that Polish listed companies follow national regulations only in some aspects for which IAS 7 provides options or has no regulations at all. The findings of this study may be relevant for standard setters, in particular, the current IASB Primary Financial Statements project, for users of financial reporting, and for academics for future research.
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Zubilevych, Svitlana. "HARMONIZATION OF UKRAINIAN ACCOUNTING AND FINANCIAL REPORTING STANDARDS IN ACCORDANCE WITH THE ACCOUNTING DIRECTIVE (2013/34/EU) REQUIREMENTS." Science and Studies of Accounting and Finance: Problems and Perspectives 9, no. 1 (November 25, 2014): 290–94. http://dx.doi.org/10.15544/ssaf.2014.32.

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The paper considers the possible impact of the Directive 2013/34/EU on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings on reporting in Ukraine with reference to signing the EU-Ukraine Association Agreement. The author then suggests possible changes in the current classification of companies, formats and components of financial statements, as well as accounting methods.
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46

KOLCHUGIN, Sergei V. "Anomalies of the control principle as part of the consolidated financial reporting concept." International Accounting 22, no. 1 (January 15, 2021): 24–47. http://dx.doi.org/10.24891/ia.24.1.24.

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Subject. The article discusses the impact of the control principle on the existing consolidated financial reporting concept. Objectives. I evaluate possible alterations in the consolidation methodology as a result of the anomaly of the control principle. Methods. The study is based on the method of analogy for scientific hypothesizing. The study methodologically relies upon Thomas Kuhn's paradigm shift theory and the impact of anomalies on methodological principles of normal science. The study combines the analysis and synthesis, induction and deduction, and the method of comparison when analyzing the existing control criteria and identifying anomalies of the control principles as part of the consolidated financial reporting concept, and examining how the anomaly influences the consolidation methodology. Results. I discovered that the control principle in the consolidated financial reporting concept influences the consolidation methodology. I suggest using my own methodological approach to preparing consolidated financial statements in case of the non-equity control the parent company holds over its subsidiary. Conclusions and Relevance. The control principle in the consolidated financial reporting concept has not been formalized, thus causing anomalies affecting methodological principles of consolidated financial reporting. The non-equity control of the parent company over its subsidiary is a case in point. This control induces unavoidable changes in the consolidation methodology. The findings can be used to prepare consolidated financial statements in case of the non-equity control of the parent company over its subsidiary.
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47

Drábková, Zita. "Analysis of Possibilities of Detectnig the Manipulation of Financial Statements in Terms of the IFRS and Czech Accounting Standards." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 63, no. 6 (2015): 1859–66. http://dx.doi.org/10.11118/actaun201563061859.

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The main objective of financial statements is to give information. The diversity of interests and objectives of individual groups of users and creators of financial statements presents the risk of manipulation of financial statements in the context of true and fair view as defined in the national accounting legislation. The paper is concerned with the different possibilities of detecting the manipulation of financial statements in terms of the Czech Accounting Standards and IFRS. The paper analyzes the selected risk detection models of the manipulation of financial statements using creative accounting methods, off-balance sheet financing methods and accounting frauds in specific case studies of selected accounting unit in terms of Czech accounting standards. Based on the analysis and comparison of the results thereof, the paper presents and evaluates the alternatives of users of financial statements to evaluate the risk of manipulation of financial statements beyond the scope of a fair and true view. The evaluation further includes a comparison of uses of these models with respect to the International Financial Reporting Standards.
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Hong, Phi Thi Diem, Vu Thi Kim Anh, and Manh Dung Tran. "Disadvantages and Motivation of Consolidated Financial Statements Preparation in Vietnam." International Journal of Economics and Finance 10, no. 3 (January 31, 2018): 36. http://dx.doi.org/10.5539/ijef.v10n3p36.

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This study is conducted for investigating disadvantages and motivations of consolidated financial statements (CFSs) with illustration of Vietnamese economic groups. As the requirements of international integration process, the international accounting harmonization contributes to do better the financial information presentation, but how to harmonize successfully is question is not easy to be answered. Data were collected from 15 economic groups in order to have primary data. Then, assumed two key hypotheses to attest the conclusions in early researches. The results show that accounting staffs knowledge as biggest obstacle and legislation as a key motivation of CFSs preparation in Vietnam. The research also finds that the purpose of CFSs is quite difference between different capital owned group types, and the current quality of the CFSs are not still absolutely convincing the users.
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Plotnikov, V. S., and O. V. Plotnikova. "Analyzing the theoretical basis of the consolidated financial statements concept." International Accounting 20, no. 13 (July 14, 2017): 752–67. http://dx.doi.org/10.24891/ia.20.13.752.

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50

Plotnikov, V. S., and O. V. Plotnikova. "Analyzing the theoretical basis of the consolidated financial statements concept." International Accounting 21, no. 11 (November 15, 2018): 1314–28. http://dx.doi.org/10.24891/ia.21.11.1314.

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