Abstract:

The objective of financial statements is to provide information on its financial position, performance and changes in financial position of the entity by external users that will use this information in making economic decisions. Consolidated financial statements is a priority interest for shareholders of both potential and actual risks in relation to the benefits associated with them.

Internationally, the accounting rules issued by the regulatory body in the United States of America (FASB) and the international body's (IASB) underlying the preparation of the consolidated financial statements. At european level, directives issued by the Council of the European communities have been completed for harmonization with International Financial Reporting Standards (IFRS) as issued by the IASB standards.

Consolidation is the process that allows the presentation of the accounts entity independent from the juridical point of view, financial or related but depending on a decision-making centre. Consolidation allows the presentation of the financial statements of such entities as if they were one single.