Abstract:

The financial statements drawn up by the entities that form part of the scope of consolidation are the basis of preparation of consolidated financial statements.

Preparation of financial statements subject to consolidation should be carried out in real time in order to satisfy this criterion is necessary as they are presented in a uniform format which would lead to the acquisition as effectively as possible.

Consolidated financial statements preparation involves a process that each group is organized according to its construction, the volume of the flow of information and transactions between entities. Consolidation of accounts may be organized in both accounting and in addition to accounting.

Purpose of presentation of consolidated financial statements is fair for users to be able to take economic decisions.

Consolidated financial statements provides information on assets, liabilities, capital, income, expenses, changes in capital and reserves as well as cash flows.

In consolidated financial statements, in addition to the current year, data must be provided and those of the previous year for users of this information to assess the evolution in time of the Group of entities.