Description
Book SynopsisIn the contemporary globalized and complex economic environment, Consolidated Financial Statements have assumed a primary role for investors, lenders and other creditors to assess the underlying economic and financial situation of any business concern. Trying to capture and represent the increasing complexity of the contemporary business models, the preparation of Consolidated Financial Statements started to grow in complexity as well, to the point that in certain instances its abuse led to some of the most severe corporate scandals of the history of financial reporting, calling for further research in this area.This book aims at providing a guide through the complex mechanisms of consolidation by showing how to understand and prepare Consolidated Financial Statements under International Financial Reporting Standards (IFRS), the most widespread set of accounting principles nowadays. On a step by step approach, the book introduces students and professionals to the meaning of consolidate
Table of ContentsChapter 1 Introduction Chapter 2 International Financial Reporting Standards (IFRS): an Overview Chapter 3 The meaning of consolidation Chapter 4 Consolidated Financial Statements Chapter 5 Combining Individual Financial Statements: a Primer Chapter 6 More on Consolidation Accounting Chapter 7 Consolidating Associations and Joint-ventures Chapter 8 Exercises on Consolidation Accounting Appendix A International Financial Reporting Standards : a Briefing Appendix B Current Situation for the Largest European Economies Appendix C Eliminating Unrealised Gains and Losses when Applying the Equity Method in Practice. Alternative Approach
