FEATURES OF THE CONSOLIDATED FINANCIAL STATEMENT OF THE ENTERPRISE

Abstract

The purpose of the article is to study the methodological aspects of preparing consolidated financial statements and to identify approaches to improving the process of its formation. The article defines the purpose and principles of forming consolidated financial statements. The advantages of preparing consolidated financial statements (CFS) have been identified. The principles of drawing up consolidated reports are defined (principles of completeness, equity, fair and reliable assessment, permanence, materiality, uniform assessment methods, uniform date of the reporting period, uniform accounting policy). The stages of the process of consolidation of reports are characterized: initial, main, final. The methods of consolidation of financial statements are determined (depending on the conditions of creation of a group of enterprises, depending on the degree of influence of the investor, depending on the method of preparing information, depending on the methods of consolidation). The description of methods depending on the degree of influence of the investor is provided (equity participation method, proportional consolidation method, full consolidation method). The requirements for the formation of KFZ (compilation of individual reporting of group enterprises, technical operations of elimination of intra-economic transactions, calculation of goodwill, accumulated capital and non-controlling interest) were analyzed. Specific features of the elimination of intragroup operations are determined. The procedure for determining goodwill is disclosed. The procedure for determining the accumulated capital is highlighted. Identified problems related to the specifics of the formation of KFZ. Factors that complicate the process of consolidation of reports have been identified, which include the legal structure of the group, which may consist of a large number of legal entities, the complex structure of the group, which includes a large number of subsidiaries, associates and joint enterprises, the opaque structure of the group, non-core and "insignificant" companies included in the group. Ways to solve problematic aspects regarding the preparation of consolidated reports are proposed.