Consolidated financial statements based on OAO "Mashtorf" - Реферат

Accounting statements in the prescribed form contains a system of comparable and reliable data on the sales of products, works and services, the cost of production, on the property and the financial position and results of operations. The consolidated annual financial statements performed by summing up the corresponding row-data included in the forms of the annual financial statements of organizations and enterprises. In addition, the consolidated accounts are prepared in a single legal entity on the basis of the reported data of its divisions and affiliates, dedicated to a single sheet, but are not separate legal entities and with the subsidiaries and affiliates. The consolidated financial statements has a purpose - to show the results of financial and economic activities of a group of related companies, legally independent, but are in fact a single economic organism. Basic need of the consolidated statement - elimination of selected indicators of enterprises in the group, in order to avoid double counting in the total (consolidated) report group.Of consolidated financial statements is primarily associated with large transnational corporations (TNCS), whose shares are listed on stock exchanges and transactions are international. However, the value of the consolidated financial statements is beyond the scope of purely informative, as it has very specific users - investors and shareholders. Company with subsidiaries that do not prepare consolidated accounts if, in turn, is a subsidiary and its parent company is consolidated. In content, the consolidated financial statements of the reporting of any other similar independent company, and includes: - Consolidated Balance Sheet (form № 1); International standards is also provided (in Russian is not specified), that the company should not be included in the consolidated financial statements, if its share in the share capital acquired exclusively with a view to sale, and if the company ceases to meet the definition of a child, - from this point on is not included in consolidated group.Most of the above principles, on which the consolidated financial statements in accordance with international standards is reflected in the Russian regulatory documents governing the preparation of the consolidated financial statements. In the consolidated financial statements combine all assets and liabilities, income and expenses of the parent company and its subsidiaries line by line by adding the relevant data by the rules set If the accounting policy of a subsidiary is different from that used for the consolidated financial statements, up to the union of an accounting to the accounting statements of the parent organization, it is in conformity with the accounting policies used for the consolidated financial statements. Until recently, the preparation of the consolidated financial statements of the Russian Federation Ministry of Finance order regulated in Russia "On the procedure for accounting of individual transactions related to the introduction of the first part of the Civil Code of the Russian Federation" dated July 28, 1995 № 81 and the conduct of the summary (consolidated ) accounting and balance of financial and industrial groups, approved by the Government of the Russian Federation on January 9, 1997 № 24. Accounting in OAO "Mashtorf" is in accordance with the Federal Law of 21.11.1996 № 129 FZ "On Accounting" (as amended on 30.06.03 № 86-FZ), the regulations on accounting and financial reporting in the Russian Federation, approved by Order of the Ministry of Finance of Russia from 09.12.19998, № 60n (as amended on 30/12/99), the applicable accounting regulations, the Plan accounts for financial and economic activity of enterprises, approved by Order of the Russian Finance Ministry of 31.10.2000 , № 94n.Prior to the consolidated financial statements to reconcile and resolve all settlements and other financial relationship the parent company and its subsidiaries, and between subsidiaries. In case the parent company of subsidiaries and associated companies at the same time the consolidated financial statements are prepared by combining the indicators of financial statements of the parent organization and its subsidiaries and the inclusion of data on participation in associates. Indicators of financial statements of the subsidiary are included in the consolidated financial statements from the first day of the month following the month of purchase of the parent organization of the relevant number of shares in the share capital of the subsidiary or the occurrence of any other possibility to influence the decisions taken by the subsidiary. Data on associates consist of the consolidated financial statements from the first day of the month following the month of purchase of the parent organization or the corresponding number of shares in the share capital of the company. Description of each component of the consolidated financial statements must con

CONTENTS

INTRODUCTION

1. Theoretical aspects of the concept and of consolidated financial statements

1.1 MAIN COMPONENTS OF THE CONCEPT "consolidated financial statements"

1.2 Principle of consolidated reporting. Legislative and legal support COMPANIES CONSOLIDATED STATEMENTS

1.3 Organization of accounting at the JSC "MASHTORF"

2. ORDER ESTABLISHING THE CONSOLIDATED STATEMENTS OF JSC "MASHTORF"

2.1 PROCEDURE of consolidated financial statements of OJSC "MASHTORF"

2.2 Procedure for consolidation

2.3 METHODS OF CONSOLIDATED STATEMENTS OF PRIMARY

3. DEVELOPMENT OF RECOMMENDATIONS TO IMPROVE THE CONSOLIDATED STATEMENTS

3.1 Automating the process of consolidated financial statements

3.2 Development of methodological recommendations on the formation of the consolidated accounts

3.3 International Financial Reporting Standards and the European Community Directive on consolidated accounts

CONCLUSION

LIST OF USED LITERATURE

APPENDIX A - EXPLANATORY NOTES TO THE ANNUAL REPORT FOR THE YEAR 2009

APPENDIX B - Accounting policy of "MASHTORF"