publication . Article . 2015

Genesis and Development of Consolidated Financial Statements

Kostyantyn Bezverkhiy;
Open Access
  • Published: 01 Jan 2015 Journal: Accounting and Finance, issue 1 March, pages 8-13
In the context of economy globalization it is the mission of consolidated financial statements to meet demands of users for financial information about activities of a company group as one company. The article is devoted to study of genesis and development of consolidated financial statements of companies. Historical prerequisites of genesis of consolidated financial statements are shown as well as factors which conduced to their spreading. The approaches are elucidated to preparation of consolidated financial statements in various countries. It is found out that one of the main issues in forming of consolidated group is determination of control rate. In this co...
free text keywords: consolidated financial statements, consolidation, genesis, holding companies, corporation, jel:M41
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