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Consolidation of financial statements as per IFRS

Consolidation of financial statements is one of the services of ACG “AIP”. It provides for the development of consolidated financial statements of a group of related organizations by combining their balances of income and expenditure, similar asset items, profit & loss accounts of the parent company and subsidiaries. The result is a general package of reports for a group of companies as for one organization.

Why the AIP Group?

20 years We have been successfully working for customers!

Training center
Training center

Personal training center

RSA member
RSA member

Member of the Russian Society of Appraisers

Control
Control

Passed the quality control of SRO “Sodruzhestvo”

Auditors
Auditors

Real auditors in the company’s staff

Learn more about consolidation of financial statements

The service for consolidation of financial statements as per IFRS is required when several companies merge into a holding company or one company acquires the status of a controlling member of the other. According to the norms of international financial reporting standards, a set of consolidated financial statements documentation shall include the following reports:

  • balance report;
  • profit report;
  • loss report;
  • report on changes in equity;
  • report on movements of money.
The rules for consolidation of financial statements state that it should also include a section with explanations in any file format.

Results of consolidation of financial statements in AIP

The principles of consolidation of financial statements in our ACG consist in the elimination of misinterpretation of the individual indicators of the companies of the group. For this reason, first of all, our specialists correctly reflect their individual indicators, excluding turnover within the group. This approach prevents incorrect determination of the final list of organizations whose data will be merged, which, in turn, will exclude serious financial losses in the future. The results of our work:

  • A set of documents on consolidation of the financial statements of IFRS;
  • Calculations of adjustments, corrections and explanations;
  • Optimized consolidation and transformation models;
  • A description of the work performed, a set of tables and a navigator for it.

Methods of consolidation of financial statements:

  • Full – when merging or buying subsidiaries, a consolidated statement of assets of structural divisions is developed;
  • Proportional – reflects the reporting of only those assets owned and used by the structural unit;
  • Equity participation – reflects the reporting at the nominal value of investments in associated companies.

Numbers

28

practicing experts in the field of audit and law

>15 000

tax consultations provided

>450

inventories under the supervision of our company's auditors

627

successfully conducted audits and issued conclusions

>5 000

corrected errors based on the audit results

>400 000

primary documents analyzed by auditors

Advantages of consolidation of financial statements in AIP:

  • High competitiveness of the company;
  • Raising investments from abroad and entering the international market;
  • Improvement of the internal management system through the use of unified accounting, management and control methods;
  • Use of visual aids of the report, which simplifies the process of understanding consolidation;
  • Identification of the existing risks that may reduce the level of loyalty to the company in the future;
  • Consulting support by AIP employees during and after the inspection.

Stages of consolidation of financial statements in AIP:

  • Determination of the final list of companies that will be merged into a holding, identification of the share of net assets;
  • Transformation of the financial statements of each of them, unification of their accounting policies. Allocation of operations within the group and mutual settlements;
  • Calculation of goodwill as of the date of purchase of a subsidiary;
  • Provision of a reporting package to the customer.
Through the efforts of our employees, your business will receive reliable protection from risks in the form of hostile take-overs, deemed back taxes or bankruptcy.
Get more information
Get more information
The AIP Group helps medium and large businesses.
Contact our expert to find out how we can help your business.
Irina - Customer Service Department +7 (495) 236-77-50

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САНИ САНИ
Ситаксис Ситаксис
Скоропослушница Скоропослушница
СМУ №122 СМУ №122
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Фонд "Маршал Жуков" Фонд "Маршал Жуков"
ЦДиК Южное Бутово ЦДиК Южное Бутово
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ДС-Тек ДС-Тек
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