Typology of Concepts of Consolidated Financial Statements

Typologie koncepcí konsolidovaných účetních výkazů

Vladimír Zelenka

Český finanční a účetní časopis, 2012, vol. 2012, issue 1, 52-63

Abstract: Good understanding of theoretical concepts of consolidation of financial statements is essential for correct interpretation of consolidated figures. There are seven principal concepts of consolidated accounts indicated in this paper, from proprietary concepts, through parent entity concepts to economic entity concepts. The principal criterion for the classification of indicated concepts of consolidated accounts are: extent of net assets of subsidiary added to the net assets of parent entity; extent and character of acquisition difference; presentation of noncontrolling interests; measurement of net assets of subsidiary at the date of acquisition. Current IFRS (IFRS 3, IAS 27 and IFRS 10) are based on economic entity concept. Current Czech accounting standards are based on limited economic entity concept.

Keywords: Concepts of Consolidated Accounts; Non-controlling interest; Consolidated financial statements; Goodwill; IFRS; Koncepce konsolidovaných výkazů; Nekontrolní podíl; Konsolidovaná účetní závěrka (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2012
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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DOI: 10.18267/j.cfuc.302

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