Consolidated accounts in IASs
4/2003 , p21..26
Author(s):
Daniela CIOLPAN
Keywords:
IAS, consolidated financial statements, accounting policies, group accounts
Abstract:
The main objective of the consolidated financial statements is to provide information concerning the economic and financial position of the companies, so that the shareholders and potential investors can take the right investment decision. The use of the same accounting policies for the events occuring under similar circumstances or the elimination of the mutual accounts and internal profits or losses lead to the attainment of this objective. Also, there are no fiscal consequences within consolidated financial statements, while the financial disclosure is made regardless of the business organization type. Due to the above reasons, the group accounts are considered the main sourse of information designed to meet external users' informational needs.
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