s between branches (departments) within the company. These operations are done in business transactions and settlement, loans, dividends received. All such transactions must be eliminated in preparing the consolidated balance sheet and income statement. Should be eliminated and intercompany balances. [12] preparing the consolidated financial statements should be eliminated loans, accounts receivable, accounts payable and accruals, as a single economic unit can not have accounts receivable or accounts payable to herself.to elimination following calculations:
Debt is not made to the authorized capital contributions;
Advances received or issued;
Loans to companies in the group;
Reciprocal receivables and payables Group;
Other assets and securities;
Expenses and deferred income;
Charging;
Contingency operations.the accounts receivable of a fully correspond to the amounts payable other company in the group, they are simply omitted.reasons for discrepancies in accounts receivable and accounts payable in accounting for the parent company and the subsidiary may be due to methodological differences, incorrect, time differences and other reasons. Such differences can easily be resolved without any impact on the profit and loss account. Accounts payable may exceed accounts receivable due to the different methods used estimates (reserve account of one company in the absence of accounts receivable to another company of the group). br/>
. DEVELOPMENT OF RECOMMENDATIONS TO IMPROVE THE CONSOLIDATED STATEMENTS
3.1 Automating the process of consolidated financial statements
Formation of the consolidated financial statements is a fairly time-consuming process. Therefore, with appropriate use of information systems., Companies in the group are used in the various accounts of its activities and management systems. It therefore seems more appropriate not to translate them into a single system, and used to collect information from the field, processing and compilation of summary (consolidated) statements in the whole group of special software and methodological solutions.these purposes, you can use the system "1C: Consolidation of 8", which provides for the collection, processing and presentation in a common format of financial information of all subsidiaries and affiliated companies, allowing to apply the necessary methodology and understand the requirements of international standards.this reconciliation intercompany sales, their elimination, performance adjusting entries, and other operations are carried out automatically. In addition, domestic enterprises keep records and prepare reports in accordance with RAS.embedded in the software solution enables consolidated accounts for ...
