CONSOLIDATED FINANCIAL STATEMENTS AS THE BASIS OF RELIABLE INFORMATION ON THE ACTIVITY OF INTEGRATED CORPORATE STRUCTURES OF UKRAINE
Keywords:
consolidated financial statements, transparency principle, integral corporate structures, subsidiary, holding, parent company
Abstract
The research presents an algorithm for comparative analysis of the integrated corporate structure reporting including three stages. The proposed algorithm for comparative analysis has been tested on the example of the consolidated financial statements of sub-holding of the industrial and financial group, the financial statements of one of the main asset parent companies in Ukraine and a subsidiary of the sub-holding. It has been established that users cannot make proper conclusions and take decisions in a comprehensive way basing upon information provided in public financial reports.
References
Arcady, A. T., Hugo, D. (1999). Understanding the latest changes in consolidated financial statements. Journal of Corporate Accounting & Finance, 10(4), 39-53. doi: 10.1002/(SICI)1097-0053(199922)10:4<39::AID-JCAF4>3.0.CO;2-8. [in English].
Casabona, Patrick A., Ashwal, A. (2005). The concept of control in consolidated financial statements: convergence of U.S. and international accounting rules. Review of Business, 26(2), [Electronic resource]. Retrieved from http://www.freepatentsonline.com/article/Review-Business/133756141.html. [in English].
DTEK Official web-site (2016). Annual reports. [Electronic resource]. Retrieved from http://www.dtek.com/en/investors_and_partners/reports [in Ukrainian].
International Financial Reporting Standard 10 (2013). Consolidated Financial Statements. [Electronic resource]. Retrieved from http://zakon3.rada.gov.ua/laws/show/929_065. [in Ukrainian].
Loveday, P. (1993). Consolidated Financial Statements. Australian Economic Review, 26(4), 88-92. doi: 10.1111/j.1467-8462.1993.tb00814.x. [in English].
Ministry of Energy and Coal Industry of Ukraine Official web-site (2016). Information on the operation of the coal complex. [Electronic resource]. Retrieved from http://mpe.kmu.gov.ua/minugol/control/uk/publish/officialcategory?cat_id=245183238. [in Ukrainian].
Pacter, P. (1991). Consolidated financial statements: New FASB ground rules? Journal of Corporate Accounting & Finance, 3(2), 147-166. doi: 10.1002/jcaf.3970030202. [in English].
SCM Official web-site (2016). Reports and presentations. [Electronic resource]. Retrieved from http://www.scmholding.com/en/investor-relations/reports. [in Ukrainian].
Walker, R. G. (1976). An Evaluation of the Information Conveyed by Consolidated Statements. Abacus, 12(2), 77-115. doi: 10.1111/j.1467-6281.1976.tb00288.x. [in English].
Casabona, Patrick A., Ashwal, A. (2005). The concept of control in consolidated financial statements: convergence of U.S. and international accounting rules. Review of Business, 26(2), [Electronic resource]. Retrieved from http://www.freepatentsonline.com/article/Review-Business/133756141.html. [in English].
DTEK Official web-site (2016). Annual reports. [Electronic resource]. Retrieved from http://www.dtek.com/en/investors_and_partners/reports [in Ukrainian].
International Financial Reporting Standard 10 (2013). Consolidated Financial Statements. [Electronic resource]. Retrieved from http://zakon3.rada.gov.ua/laws/show/929_065. [in Ukrainian].
Loveday, P. (1993). Consolidated Financial Statements. Australian Economic Review, 26(4), 88-92. doi: 10.1111/j.1467-8462.1993.tb00814.x. [in English].
Ministry of Energy and Coal Industry of Ukraine Official web-site (2016). Information on the operation of the coal complex. [Electronic resource]. Retrieved from http://mpe.kmu.gov.ua/minugol/control/uk/publish/officialcategory?cat_id=245183238. [in Ukrainian].
Pacter, P. (1991). Consolidated financial statements: New FASB ground rules? Journal of Corporate Accounting & Finance, 3(2), 147-166. doi: 10.1002/jcaf.3970030202. [in English].
SCM Official web-site (2016). Reports and presentations. [Electronic resource]. Retrieved from http://www.scmholding.com/en/investor-relations/reports. [in Ukrainian].
Walker, R. G. (1976). An Evaluation of the Information Conveyed by Consolidated Statements. Abacus, 12(2), 77-115. doi: 10.1111/j.1467-6281.1976.tb00288.x. [in English].
Abstract views: 387 PDF Downloads: 213
Published
2017-12-28
How to Cite
Yakymchuk, T., & Cerpinska, A. (2017). CONSOLIDATED FINANCIAL STATEMENTS AS THE BASIS OF RELIABLE INFORMATION ON THE ACTIVITY OF INTEGRATED CORPORATE STRUCTURES OF UKRAINE. Scientific Journal of Polonia University, 25(6), 28-37. https://doi.org/10.23856/2503
Section
Social Sciences
