CONSOLIDATED FINANCIAL STATEMENTS UNDER IFRS
Romanian Economic and Business Review,
subsidiary, joint venture, noncontrolling interests, the acquirer,goodwill, full consolidation, proportionate consolidation method
This article is focuses on accounting consolidation techniques and the preparation of consolidation worksheets for the components of financial statements (statement of comprehensive income, statement of changes in equity, and financial position). The presented group includes parent company, two subsidiaries (only one fully controlled by the parent company) and a jointly controlled entity. The financial statements are presented under the following standards IFRS 3 Business Combination, IAS 27 Consolidated and separate financial statements and IAS 31 Interests In Joint Ventures.