scholarly journals A CASE STUDY ON THE CONSOLIDATION OF FINANCIAL STATEMENTS OF ENTITIES AFFILIATED THROUGH DIRECT CONSOLIDATION PROCEDURE

2020 ◽  
Author(s):  
Mihai Deju
Keyword(s):  
Present Article ◽  
Integration Method ◽  
Financial Statements ◽  
Global Integration ◽  
Consolidated Financial Statements ◽  
The World ◽  
Problematic Issue ◽  
Accounting Practitioners ◽  
Correct Application

The preparation of annual consolidated financial statements, in the context of the existence of group companies, represents a relatively new problematic issue for accounting practitioners, the world of the academia, as well as for the regulating bodies in the field of accounting. This situation generates intense debates among accounting specialists with the aim of finding practical solutions that facilitate the understanding and correct application of accounting regulations in the area of consolidating accounts. The present article approaches, by means of a case study, the specific aspects related to the consolidation of affiliated entities’ accounts by means of using the global integration method and the direct consolidation procedure.

scholarly journals SPECIFIC OPERATIONS FOR ACCOUNTS’ HOMOGENIZATION WITH A VIEW TO CONSOLIDATION

2017 ◽  
Author(s):  
Mihai Deju
Keyword(s):  
Accounting Standards ◽  
Financial Statements ◽  
Business Environment ◽  
International Accounting Standards ◽  
Legal Regulations ◽  
Continuous Change ◽  
Consolidated Financial Statements ◽  
Problematic Issue ◽  
Accounting Practitioners ◽  
National Economies

<p>The preparation of annual consolidated financial statements by group companies represents a relatively new problematic issue for regulating bodies, the world of the academia, as well as for accounting practitioners. The current national and international accounting standards undergo a continuous change and updating to the economic and judicial reality of the business environment which, in turn, goes through a permanent transformation as a result of the globalization of national economies. These novelties raise the necessity of debates organised by accounting specialists with the aim of finding solutions that respect legal regulations related to the preparation of financial statements for consolidation. The present article approaches accounting aspects related to the operation of adjusting individual financial statements that are the object of consolidation.</p>

The “World” Concept Among Jehovah's Witnesses

1946 ◽  
Vol 39 (2) ◽  
pp. 109-140
Author(s):  
Theodore W. Sprague
Keyword(s):  
Present Article ◽  
Jehovah’S Witnesses ◽  
Important Place ◽  
Jehovah's Witnesses ◽  
The World ◽  
World Concept

Various concepts bearing the label of “the world” have held an important place among the categories in terms of which men of many times and places have organized their experience. The present article attempts a case study of a single one of these — that developed by Jehovah's witnesses.

British Control over the Export of war Materials

1939 ◽  
Vol 33 (2) ◽  
pp. 292-317 ◽  
Author(s):  
Elton Atwater
Keyword(s):  
Great Britain ◽  
Present Article ◽  
The Other ◽  
Export Control ◽  
Government Control ◽  
Other Hand ◽  
The World ◽  
The Subject ◽  
Arms Export

At a time when the subject of arms embargoes and arms export control is arousing considerable interest both at home and abroad, it is not untimely to examine the system of control which has developed in one of the chief arms producing and exporting countries of the world—Great Britain. Much attention has been devoted to the alleged evils of the international traffic in arms, and to the desirability of an effective government control over all armaments exports. Little consideration, on the other hand, has been given by writers to the question of how such control should be administered by a government, and what measures are actually involved. Taking the experience of Great Britain as a case study, the writer proposes in the following pages to trace the development of arms export control in that country, to examine the ways in which it has been administered, and to point out some of the difficulties which have been encountered. The present article may be looked upon, therefore, as a case study in the broader subject of national controls over the export of war materials.

scholarly journals Accounting regulation and enforcement mechanisms: the auditor's role in the portuguese listed groups

2003 ◽  
Vol 14 (spe) ◽  
pp. 88-105
Author(s):  
Ana Fialho Silva ◽  
Ana Maria Rodrigues ◽  
Leonor Fernandes Ferreira
Keyword(s):  
Stock Exchange ◽  
Financial Statements ◽  
Consolidated Financial Statements ◽  
Accounting Regulation ◽  
General Obligation ◽  
Accounting Rules ◽  
Group Concept ◽  
Enforcement Mechanisms ◽  
Correct Application ◽  
Audit Reports

The purpose of this article is to examine the extent to which the clauses for the exclusion of subsidiaries from consolidation are used, in order to assess the degree of compliance with accounting regulation and the effectiveness of the statutory auditor as an enforcement mechanism in case of observed non-compliance. The presentation of consolidated financial statements by Portuguese companies was not regulated in detail before the implementation of the EU's Seventh Directive and the general obligation to prepare consolidated accounts had not applied to Portuguese companies until 1991. Regulators have been responsible for the endorsement of accounting rules and managers are responsible for the information disclosed by Portuguese companies regarding the scope of group accounting. In practice, the scope of consolidation depends on the judgment of makers and managers of the parent company. Auditors may play a key role in the process of guaranteeing the correct application of prevailing standards and thus encompassing the enforcement of accounting regulations and contributing to the quality of disclosed information. Our sample includes the consolidated financial statements of all the Portuguese companies listed in the Lisbon Stock Exchange on December 31st for the year 1999, to which the Official Accounting Plan is applicable. Our conclusion is that diversity exists among accounting practices regarding the adopted group concept and the use of the clauses for excluding subsidiaries from consolidation. The role of the auditors as enforcement actors seems to be minor, as we did find few qualifications in their audit reports in the cases of observed non-compliance with the accounting regulation.

Serbo-Croatian

2011 ◽  
Vol 35 (1) ◽  
pp. 1-14 ◽  
Author(s):  
Vedran Dronjic
Keyword(s):  
Language Policy ◽  
Present Article ◽  
Slavic Language ◽  
European Language ◽  
The South ◽  
Language Status ◽  
The World ◽  
Significant Change ◽  
Linguistic Reality

Utilizing Kloss’s concept of Ausbausprache (language as a sociopolitical construct), this article adopts the view that many languages in the world owe their language status to non-linguistic factors such as their speakers’ ethnic, cultural, and political affiliations, as well as language policy. It is thus possible that individuals who can readily understand each other in everyday conversation (such as two individuals living on either side of the Macedonian/Bulgarian border) can be deemed to speak different languages, while those who cannot understand each other at all (such as speakers of Shanghainese and Mandarin) can be widely perceived as speakers of the same language. This article is an account of how the South Slavic language formerly known as Serbo-Croatian came to be conceived of as a single, unified language due to a number of non-linguistic factors, and how it ceased to be considered a language once these non-linguistic factors were no longer present. Thus, apart from being a case study of how one particular European language was born and how it died without any significant change in linguistic reality on the ground, the present article serves to reinforce the theoretical notion of Ausbausprache as a crucial concept for defining what a language is.

scholarly journals Case Study: Consolidated Balance Sheet At Date Of Purchase

2016 ◽  
Vol 13 (1) ◽  
pp. 1-4
Author(s):  
Peter Harris ◽  
Petra Dilling
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
Consolidated Financial Statements ◽  
Consolidation Process ◽  
Actual Case ◽  
Global Expansion ◽  
Depth Analysis

Consolidated financial statements have gained great popularity over the last decade with the resurrection of acquisitions and the increased global expansion of business. This case study provides an actual case study of the preparation and presentation of a Consolidated Balance Sheet on the date of acquisition. An in-depth analysis is provided as to how to value the acquired entity, how to calculate Goodwill and how to measure the Non-Controlling interest portion. Work paper and adjusting entries are also highlighted to help facilitate the consolidation process.

scholarly journals IFRS Adoption In The E.U., Accounting Harmonization And Markets Efficiency: A Review

2010 ◽  
Vol 9 (12) ◽  
Author(s):  
Gabriele Guggiola
Keyword(s):  
Financial Markets ◽  
Financial Statements ◽  
Listed Companies ◽  
European Countries ◽  
Consolidated Financial Statements ◽  
Ifrs Adoption ◽  
The World ◽  
Harmonization Process

As of 1st January 2005 all European listed companies had to adopt IAS/IFRS in order to prepare their consolidated financial statements. Half a decade later, the paper analyzes the advancements in the accounting harmonization process within European countries and between E.U. and the rest of the world, over-viewing the first available evidence on the effects on financial markets efficiency. The paper aims at providing an updated description of the process of IFRS adoption in the E.U., pointing out the positive aspects and the main drawbacks and reviews the major contribution provided by the literature during the last years on this subject.

scholarly journals COVID-19 and the related accounting considerations in preparing financial statements and disclosure requirements

2020 ◽  
Vol 5 (2) ◽  
Author(s):  
Ghias Khan
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Ifrs Adoption ◽  
Current Period ◽  
Disclosure Requirements ◽  
The World ◽  
The Subject ◽  
The Government ◽  
The Way

The purpose of this case study is to examine the impacts of COVID-19 on financial reporting from the different view sides of IFRS disclosure requirements. Most of the countries in the world carrying the effects of COVID-19 and nearly a quarter of the population is quarantined and most of the business is in lockdown condition. As a result of the businesses working online as well as change their pattern of operations due to COVID-19 pandemic. The government also imposes legislation related to it and there must be significant changes in IFRS implication concerning pandemic to improve the situation in all the way. A questionnaire has been prepared and send to the concerned officials of the company in the subject here to ascertain the facts related to the implications of IFRS adoption in the current period of the pandemic. The questionnaire covers around 31 aspects related to disclosures as per IFRS and the study here analyzes how Unilever Pakistan Limited adopted these changes or in which areas still following the same policy without impacting COVID-19.

scholarly journals Effects of adopting IFRS 10 and IFRS 11 on consolidated financial statements

2019 ◽  
Vol 27 (1) ◽  
pp. 91-124 ◽  
Author(s):  
Ana Isabel Lopes ◽  
Mariana Lopes
Keyword(s):  
Financial Statements ◽  
Financial Ratios ◽  
Future Research ◽  
Joint Control ◽  
Financial Indicators ◽  
Consolidated Financial Statements ◽  
Content Type ◽  
Peer Reviews ◽  
Accounting Practitioners ◽  
The Uk

Purpose The purpose of this paper is to investigate how the adoption of IFRS 10 and IFRS 11 affected consolidated financial statements. Specifically, the paper explores whether entities adopted mandatorily or voluntarily both IFRS, whether expressly declared effects, whether considered those effects as material and whether those effects had impacts on selected items of financial statements and on selected financial ratios. Design/methodology/approach The research is an exploratory study using public entities from Germany, France and the UK. The majority of the data is manually collected from financial statements. Findings The results suggest that the adoption of the new IFRS 10 affected the composition of a large number of entity groups but that their financial information and economic-financial indicators do not present material changes. There is also evidence of a large and material impact on the changes in the classification and accounting for interests in arrangements under joint control through the new IFRS 11. The evidence thus suggests unequal effects of the adoption of IFRS 10 and IFRS 11 on the proportion of entities declaring materiality of effects, on the quantitative effects on selected items of financial statements, and on financial ratios. A comparison between the pre-adoption and post-adoption periods reveals that the majority of the effects are driven by the adoption of IFRS 11. Originality/value As far as is known this exploratory paper is the first presenting the effectiveness of adopting the most important standards under the “consolidation package” and opens an avenue for future research by academics, for future post-implementation reviews by IASB, and for analysis of peer reviews between accounting practitioners.

Sign in / Sign up

Export Citation Format

Share Document