Using of accounting principles for preparation and presentation of consolidation financial statements
13-14/2005 , p63..66
Author(s):
Cosmina PITULICE
Keywords:
consolidated financial statements, consolidation processs, generally accepted accounting principles
Abstract:
Consolidated financial statements represent a useful database for those who have an interest in the group: investors, creditors, employees, clients, suppliers, authorities and so on. The usefulness is certified by applying certain accounting principles, generally accepted by international regulators and users. Among these accounting principles are to be mentioned: substance over form, going concern, consistency of valuation and presentation, materiality, offsetting, matching principle. Each of the above-mentioned principles is presented below, considering its influence over the consolidation process. The principle most emphasized is substance over form, as it represents the main reason for conducting consolidated accounting.
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