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Typology of Concepts of Consolidated Financial Statements
[Typologie koncepcí konsolidovaných účetních výkazů]

Author

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  • Vladimír Zelenka

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.

Suggested Citation

  • Vladimír Zelenka, 2012. "Typology of Concepts of Consolidated Financial Statements [Typologie koncepcí konsolidovaných účetních výkazů]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2012(1), pages 52-63.
    • Handle: RePEc:prg:jnlcfu:v:2012:y:2012:i:1:id:302:p:52-63
    DOI: 10.18267/j.cfuc.302
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    Cited by:

    1. Tereza Gluzová, 2016. "Disclosure of Subsidiaries with Non-controlling Interest in Accordance with IFRS 12: Case of Materiality," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 64(1), pages 275-281.

    More about this item

    Keywords

    Concepts of Consolidated Accounts; Non-controlling interest; Consolidated financial statements; Goodwill; IFRS; Koncepce konsolidovaných výkazů; Nekontrolní podíl; Konsolidovaná účetní závěrka;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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