CONSOLIDATED FINANCIAL STATEMENTS: Basic Principles and Procedures for a First and Subsequent Consolidations of a Subsidiary
θέμα: Economics - Tax Law
ημ/νία κυκλοφορίας: 02/04/2007
Εκδόσεις: Ant. N. Sakkoulas Publishers
ItΒ’s about a three volume textbook, each volume supplementing the key concepts of the other ones. The book is mainly addressed to:
- students having a basic knowledge of financial accounting and wish to proceed to a further understanding of advanced accounting issues such as the measuring and presenting an entityΒ’s investments in subsidiaries, associates and joint-ventures,
- practitioners responsible for a proper accounting for the participating investments of an undertaking in accordance with the International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS), and
- Certified Accountants and other auditors of any company applying the IASs and IFRSs.
The third and last volume entitled Β“CONSOLIDATION OF BUSINESS COMBINATIONS: Complex and Horizontal Group Structures, Changes in the ParentΒ’s Ownership or in a Group Structure, Foreign Subsidiaries and Other Special IssuesΒ” (pages 439) provides analytical explanations and copious illustrations of many special issues such as:
- step and reverse acquisitions,
- the various ways leading to a change in the ownership percentage, with or without loss of control of the subsidiaries involved,
- the techniques of consolidating any complex or horizontal business combination,
- the procedures required for a proper measurement and presentation of a subsidiary issuing its annual accounts in a currency other than the presentation currency of the parent or a subsidiary whose functional currency is the currency of a hyperinflationary economy (IAS 21 and IAS 29).
Separate chapters are devoted to examine in detail the alternatives provided by IFRS 1 Β“First-time Adoption of International Financial Reporting StandardsΒ” regulating the transition from the national accounting standards (as contained in Hellenic Companies Low 2190/20) to IASs and IFRSs. The transitional regulations discussed in the book shall be followed by any company which holds equity securities issued by an associate, join-venture or subsidiary, as soon as the holding company elects or is required to apply for the first time the international accounting standards at any date after 1.1.2005.