Consolidated balance sheet compilation example. Acquisition method

In the context of cost items, material costs include the following costs of the organization listed below.

1. The cost of purchasing raw materials and / or materials used in the production of products and / or forming their basis or being a necessary component in the production of products.

Vacation operations material assets in production for the manufacture of products are reflected in the accounting on the credit of account 10 "Materials" in correspondence with the accounts of accounting for production costs (accounts 20 "Main production", 23 "Auxiliary production", etc.).

Accounting for operations on the receipt of raw materials and materials to the organization and their release into production, as well as documenting These operations are detailed in Chap. 7.

2. The cost of purchasing materials used:

For packaging and other preparation of manufactured and/or sold products (including pre-sale preparation);

For other production and economic needs (for testing, control, maintenance, operation of fixed assets and other similar purposes).

The release of materials for the packaging of manufactured and / or sold products, for general production and general business needs is reflected in the credit of account 10 “Materials” in correspondence, respectively, with the debit of account 44 “Sales expenses”, account 25 “General production needs” and account 26 “General business expenses” .

3. Costs for the purchase of tools, fixtures, inventory, instruments, laboratory equipment, overalls, other means of individual and collective protection and other property that are not depreciable property.

The cost of this property is included in the composition of material costs in full as it is put into operation.

Special tools, special devices, etc., as well as special clothing owned by the organization, are accounted for before transfer to production or (operation) as part of the organization's current assets under account 10 "Materials" on a separate subaccount 10-10 "Special equipment and special clothing in stock.

Broadcast special equipment and special clothing into production (operation) is reflected in accounting on the debit of account 10 “Materials” (subaccount 10-11 “Special equipment, special clothing in operation”) in correspondence with the credit of account 10 “Materials” (subaccount 10-10 “Special equipment, special clothing in stock).

At the same time, the costs of purchasing overalls and other means of individual and collective protection that are not depreciable property are taken into account as part of material expenses only if mandatory application overalls and other means of individual and collective protection by workers of a particular profession is provided for by the legislation of the Russian Federation.

Peculiarities accounting operations for the receipt of special equipment and special clothing in the organization and their release into production (operation), as well as the documentation of these operations are detailed in Ch. 7.

4. The cost of purchasing components that are subject to installation, and / or semi-finished products that are subject to additional processing in the organization.

Purchased semi-finished products and components are accounted for on account 10 "Materials" (sub-account 10-2 "Purchased semi-finished products and components, structures and parts"). -

The release of semi-finished products and components into production for the acquisition of manufactured products is reflected in the credit of account 10 "Materials" (sub-account 10-2) in correspondence with the accounts of production costs.

5. Costs for the purchase of fuel, water and energy of all types spent for technological purposes, production (including by the organization itself for production needs) of all types of energy, heating of buildings, as well as the costs of transformation and transmission of energy.

The basis for accounting for energy will be an agreement with an energy supply organization, reflecting the supply of electricity and other types of energy. Documents confirming these expenses are bills, invoices, bank statements and payment orders.

In a similar manner, the costs of purchasing water are taken into account. At the same time, these costs must be justified by the technological process. In case of excessive consumption of electricity, excess of water consumption norms not caused by the technological process, the costs should be considered economically unjustified.

In accounting, energy and fuel spent for technological purposes are reflected in the debit of the accounts of accounting for production costs and the credit of account 60 “Settlements with suppliers and contractors”.

6. Costs for the acquisition of works and services of an industrial nature performed by third parties or individual entrepreneurs, as well as for the performance of these works (rendering of services) by the structural divisions of the organization.

Works (services) of a production nature include the performance of individual operations for the manufacture of products, processing of raw materials and materials, maintenance of fixed assets and other similar works.

Works (services) of an industrial nature also include transport services of third-party organizations (including individual entrepreneurs) and / or structural divisions of the organization itself for the transportation of goods within the organization. These include, in particular, the movement of raw materials, materials, tools, parts, blanks, other types of cargo from the central warehouse to workshops and delivery finished products in accordance with the terms of agreements (contracts).

Works and services of an industrial nature performed by third-party organizations or individual entrepreneurs (including transport services) must be carried out under contracts with suppliers and taken into account on the basis of acts of acceptance and delivery of works (services), invoices, bank statements and payment orders .

In accounting, the cost of these works and services is reflected in the debit of the production cost accounts in correspondence with accounts 60 “Settlements with suppliers and contractors” and 76 “Settlements with various debtors and creditors”.

The cost of delivering inventory (hereinafter referred to as inventory) carried out by the organization's own vehicles does not increase the cost of the specified inventory, but is reflected in the corresponding cost group (labor costs, accumulated depreciation, etc.).

7. Expenses associated with the maintenance and operation of fixed assets and other property for environmental purposes (including expenses associated with the maintenance and operation of treatment facilities, ash collectors, filters and other environmental facilities, expenses for the disposal of environmentally hazardous waste, expenses for the purchase of third-party services organizations for the reception, storage and destruction of environmentally hazardous waste, cleaning Wastewater, payments for maximum permissible emissions (discharges) of pollutants into the environment and other similar expenses).

The costs associated with environmental protection measures should be guided by federal law dated 10.01.2002 No. 7-FZ “On the protection environment". The costs of environmental protection are determined by the List of works (services) for environmental protection, approved. by order of the State Committee for Ecology of Russia dated February 23, 2000 No. 102 “On works (services) for environmental purposes”. At the same time, these expenses of the organization should not be associated with the acquisition (construction) of depreciable property.

When accounting for the costs of burial and destruction of environmentally hazardous waste, one should be guided by the Rules for the Transboundary Movement of Waste, approved. Decree of the Government of the Russian Federation of July 17, 2003 No. 442 "On the transboundary movement of waste" and the order of the Ministry natural resources RF dated 02.12.2002" No. 786 "On Approval of the Federal Classification Catalog of Waste".

8. The following shall be equated to material expenses for the purposes of profit taxation:

Losses from shortage and / or damage during storage and transportation of inventory items within the limits natural loss;

Technological losses during production and/or transportation;

Expenses for mining and preparatory work in the extraction of minerals, for operational overburden work in quarries and threaded work in underground mining within the mining allotment of mining enterprises.

Losses from shortages and / or damage during storage and transportation (natural loss) of MPZ are due to the physicochemical characteristics of these MPZ.

Natural wastage does not include technological losses and losses from rejects, as well as losses of inventory during storage and transportation caused by violation of the requirements of standards, technical and technological conditions, rules of technical operation and damage to containers.

Losses from shortages and / or damage during storage and transportation of MPZ are accepted for profit tax purposes only within the limits of natural loss approved in the manner established by the Government of the Russian Federation. "

Technological losses are recognized as losses in the production and / or transportation of goods (works, services) due to the technological features of the production cycle and the transportation process, as well as the physical and chemical characteristics of the raw materials used.

In-kind indicators characterizing technological losses arising from the conduct of a particular technological process must be substantiated and documented.

At the same time, technological losses are taken into account in reducing tax base as part of the assessment of the cost of material costs transferred to production:

The amount of material costs should be reduced by the cost of returnable waste, which is reflected in the debit entry of account 10 “Materials” and the credit of account 20 “Main production” or account 23 “ Auxiliary production».

When selling returnable waste, the third party should keep in mind that the price of the specified waste is determined by agreement of the parties in accordance with the concluded agreement.

As a rule, the cost of inventories included in material costs is determined based on their purchase prices, excluding value added tax, including commissions paid to intermediary organizations, import customs duties and fees, transportation costs and other costs associated with the acquisition of inventories.

Accounting for operations for the acquisition of inventories and their release into production and for other needs, accounting for containers and returnable waste, accounting for losses from shortages and / or damage to material assets, etc., as well as documenting these operations are detailed in Ch. 7.

Development market relations between states contributes to the entry into the international arena of groups of interconnected companies to attract new investors. As a result, it becomes necessary to provide interested parties with information about financial position large organizations as a consolidated report.

What is consolidated reporting and why is it needed

The definition of consolidated financial statements is linked to the definition of a group of companies.

Company group- these are two or more enterprises that have a legal status and are united in one group, which, as an economic unit, is not considered a legal entity.

Control over enterprises (subsidiaries) is carried out by the parent (parent or management) firm, which determines the financial and economic activities of its subsidiaries for financial gain. The most common forms of creating groups of enterprises are holding companies and concerns.

Consolidated financial statements(KFO)- this is a type of reporting containing reliable information about the property and financial condition group of companies, on the economic results of its activities, on the prospects for future development.

CFA is compiled independently of the financial statements, is not provided in tax service or others government bodies. The document gives only a general idea of ​​the affairs of the entire interconnected group as a whole, but not for each enterprise separately.

The CFO must comply with IFRS and be for informational purposes only. It is provided to third-party users interested in the group of companies and is aimed at increasing their confidence. Based on such a report, users make decisions regarding the group of enterprises.

REFERENCE. To improve the level of accounting and reporting, the Government of the Russian Federation carried out a corresponding reform that brought Russian accounting and reporting standards closer to International Financial Reporting Standards (IFRS).

List of legal entities providing CFA

In the Russian Federation, such reporting is required to be provided by any groups that have subsidiaries. The preparation, presentation, audit and disclosure of statements are regulated by the Federal Law “On Consolidated Financial Statements” dated July 27, 2010 No. 208-FZ (last edition). According to Art. 2 clause 1 of the above law, the CFD are required to form:

• credit organizations;
• clearing organizations;
• NPF - non-state pension funds;
• companies whose securities participate in the auction;
• insurance companies, except for the medical field;
• NPF management companies and investment funds, including shares;
• other groups of companies, the list of which is determined by law.

By whom and for whom the consolidated financial statements are prepared

The CFA is compiled by the parent company of the group of companies. Art. 4 of the Federal Law “On Consolidated Financial Statements” defines the categories of reporting recipients. These are:

1. Participants and owners of the property of the enterprise - shareholders, founders, board of directors. They are the first to receive annual/interim reports within the time frame statutory: 120 and 60 days, respectively, from the end of the reporting period.
2. The Central Bank of the Russian Federation receives the CFA in the manner and terms established by the Central Bank of the Russian Federation.
3. Users of interest - suppliers, investors and others. For them, within 30 days, reporting is posted on public resources, such as the media and Internet portals.

Composition and features of CFD

CFO has some differences from standard financial statements. First, information about economic activity come not from one but from several organizations. Secondly, at consolidated reporting different range of users. Thirdly, a different report generation technique is used.

What CFO contains:

• the whole balance sheet with the necessary attachments and summaries (Form 1);
• full profit/loss statement for the entire group of companies (Form 2);
• informational summary of the group members: their complete list, registration addresses and the share of the parent company in the authorized capital.

Therefore, the essence of the formation of the QFA is to combine the reports of the managing and subsidiaries into one document. Wherein settlement operations conducted between group members are excluded from the totals financial activities. This is done to provide information regarding the work of the group in the external environment. Otherwise, the totals will be distorted.

When reporting, the size of the share in the authorized capital of a subsidiary owned by the parent company plays an important role. If the share is more than 51% or the company holds a controlling stake, then the full financial indicators child structures. If the share of participation is less than 20%, the financial performance of this organization is not included in the report. In other cases, the indicators are proportional to the share of participation.

Other requirements for consolidated reporting

• Evaluation of the reports of subsidiaries should be carried out according to the principles common to all.
• The report must be generated in one language and in one currency (for the Russian Federation - Russian and in rubles).
• The accuracy of all information, the order in which they are presented, must be observed. The head of the parent company is responsible for this.
• A uniform procedure and exact deadline for submitting reports to the parent organization by subsidiaries is required.
• The reporting requirement must be met by absolutely all members of the group.
• CFA must have audit report, which is subject to presentation and disclosure together with the reporting.

IMPORTANT! If the parent company has subsidiaries located abroad, then their data on financial and economic activities must be reflected in the report. Moreover, all information must be in Russian or with a translation attached to the document.

Methods for the formation of QFA

In order to process a large amount of data, several methods for generating QFA are used. The choice of method is made by the parent organization, which is influenced by the nature of the enterprise and the share of the company that it owns.

Complete Consolidation

The method is used when the parent organization consolidates reports from dependent (subsidiary) enterprises. This approach requires a clear definition of the structure of the group of companies. Here, the method of adding the indicators of the same-name balance sheet items is applied, minus intra-group settlement transactions.

Share

The method is relevant if the investor has a share in the capital of the organization, but is not a member. Therefore, profit and loss are determined based on actual cost shares with subsequent adjustment equity participation in the organization's profits.

Pooling of interests method

When several firms equally own the enterprise, but there is no parent organization in the structure, the method of pooling of interests is applied. In this case, when reporting, each owner must reflect information regarding all subsidiaries.

Combined reporting

Combined reporting is formed in cases where there is a group of companies without a parent company, but in fact owned by one owner without any legal connection. As a result, reports are first compiled for each organization, after which all indicators (including capital) are summarized in one document, after which intra-group calculations are subtracted.

Proportional Consolidation Method

Applicable in cases where an agreement on joint activities is drawn up between enterprises. It prescribes the rights and obligations of all parties, and any method of consolidation is chosen on the basis of an agreement. There are the following forms of joint activity: by assets, by operations and by companies.

When drawing up a consolidated balance sheet, you must:

a) summarize the indicators of assets and liabilities of the balance sheets of the main (parent) company and subsidiaries;

b) balance sheet indicators that characterize mutual settlements and obligations of the main (parent) company and subsidiaries of the group, to be eliminated (mutually excluded) and not reflected in the consolidated balance sheet;

c) investments of the main (parent) company in subsidiaries and the authorized capital of the subsidiary in the part contributed by the main company, also mutually exclude and not reflected in the consolidated balance sheet;

d) if the investment of the main (parent) company in the subsidiary is less than 100% authorized capital(nominal value ordinary shares) the latter, then in certain indicators of the consolidated balance sheet, allocate a minority share - in proportion to the share of the main shareholders (contributors) of the subsidiary in its authorized capital.

These listed operations are performed only during the preparation of consolidated financial statements and are not reflected in the accounting registers of either the main (parent) company or subsidiaries. No consolidated accounting registers are not conducted. As part of the explanatory note to the consolidated financial statements, the main (parent) company provides a breakdown of its investments in the context of each dependent company.

The reporting consolidation procedure includes calculations for the following main aspects:

Consolidation of capital;

Consolidation of balance sheet items related to intra-group settlements and transactions;

Consolidation of financial results from intra-group sales of products (works, services);

Reflection in the consolidated financial statements of dividends of the main (parent) company and subsidiaries.

In the special economic literature, some authors suggest that capital consolidation be carried out by various methods, depending on the structure of the authorized capital and the conditions for the repurchase of shares of a subsidiary by the main (parent) company.

If the parent company has a wholly owned subsidiary, then when compiling the consolidated balance sheet, the liability item “Authorized capital” of the subsidiary and the asset item “Investments in subsidiaries” of the parent company are completely mutually exclusive. Accordingly, there are no indicators in the consolidated balance sheet under the items “Investments in subsidiaries” and “Authorized capital of a subsidiary”. The authorized capital of the consolidated balance sheet is equal to the authorized capital of the main (parent) company.

The interests of the shareholders of the subsidiary (minority interest) must be reflected in the consolidated balance sheet. For subsidiaries, the minority interest is the source of funds for group financing and is reflected in the liabilities side of the balance sheet in a special item of the same name in the section “Equity and reserves”.

The minority share of a subsidiary, as a rule, includes two components - a part of the authorized capital of a subsidiary, corresponding to the share of third-party shareholders in it, and a part of the additional, reserve capital, retained earnings and all other sources own funds subsidiary, proportional to the share of third-party shareholders in the authorized capital.

Consider examples of the technique of drawing up a consolidated balance sheet in different versions.

Example 25. The shipping company “M 1” (the parent organization) owns 51% of the ordinary shares of the subsidiary company “D 1” from the moment of registration and the beginning of the activities of the latter. Reporting balance sheets are presented in table. 28.

Table 28

Reporting balance sheets of companies "M 1" and "D 1" at the end of the year, thousand rubles.

a) in the equity of the subsidiary "D 1" the minority share is calculated:

In the authorized capital 0.49 x 20,000 thousand rubles. = 9800 thousand rubles;

In additional capital 0.49 x 13,000 thousand rubles. = 6370 thousand rubles;

In the reserve capital 0.49 x 5000 thousand rubles. = 2450 thousand rubles;

In retained earnings 0.49 x 1000 thousand rubles. = 490 thousand rubles.

Total RUB 19,110 thousand

Amount RUB 19,110 thousand shown as a separate line in the liability of the consolidated balance sheet under the item “Minority interest”;

b) investments of the parent company in the authorized capital of the subsidiary in the amount of 10,200 thousand rubles. eliminated by general rule capital consolidation. The authorized capital of the consolidated balance sheet is equal to the authorized capital of the parent company (see Table 28);

c) the group's share in the remaining elements of the subsidiary's equity is:

In the authorized capital 0.51 x 20,000 thousand rubles. = 10,200 thousand rubles;

In additional capital 0.51 x 13,000 thousand rubles. = 6630 thousand rubles;

In the reserve capital 0.51 x 5000 thousand rubles. = 2550 thousand rubles;

In retained earnings 0.51 x 1000 thousand rubles. = 510 thousand rubles.

Total RUB 19,890 thousand

Upon consolidation, these amounts are added to the corresponding figures of the parent company.

The consolidation procedure and the consolidated balance sheet of the group are presented in Table. 29.

There may also be cases when a parent organization acquires shares of a subsidiary at a price different from the nominal value of the shares of the latter. Then the preparation of the consolidated balance sheet begins with the determination of the book value equity(ordinary shares) of a subsidiary, which is reflected in the liabilities side of the balance sheet of section III “Capital and reserves”.

Subsequently, the amount of the investment of the parent organization in the subsidiary is compared with the book value of the equity capital of the subsidiary (or its share owned by the parent company).

If the parent's investment is greater than the book value of the equity of the subsidiary, then the corresponding difference is called "Goodwill arising on consolidation (firm value or goodwill of subsidiaries)". Reflection of this difference in the consolidated balance sheet can be done by one of two methods:

a) by adjusting the group's consolidated balance sheet asset.

Table 29

Consolidated balance sheet worksheet

Consolidation of capital.

The parent company (“M 1”) owns 51% of the ordinary shares of the subsidiary (“D 1”)

In this case, the excess of the purchase price over book value equity of a subsidiary is reflected in section I “Non-current assets” of the consolidated balance sheet. In its own way economic essence goodwill arising on consolidation is intangible asset. In the consolidated balance sheet, it can be reflected under a specially introduced item “Goodwill arising from consolidation (firm price or goodwill of a subsidiary)”;

b) by adjusting the liability of the group's consolidated balance sheet. Using this method, such excess is deducted from the carrying amount of equity in the group's consolidated balance sheet.

If the investment of the parent organization is less than the book value of the equity capital of the subsidiary, then the corresponding difference between the purchase price and the book value of the equity capital of the subsidiary will be negative and is reflected in the consolidated balance sheet as a reserve (profit) arising from consolidation (in the liability section III “Capital and reserves).

The authorized capital of both the parent organization and the subsidiary may consist of ordinary and preferred shares.

The cost of preferred shares issued by the parent company is reflected in the consolidated balance sheet in full ( section III"Capital and reserves").

If the parent company owns all preferred shares of a subsidiary, then indicators reflecting the investment of the parent company in such shares and the authorized capital of the subsidiary in the part corresponding to the value of its preferred shares are mutually excluded during consolidation.

Important methodological aspect consolidation of reporting may be reflected in the consolidated balance sheet of intra-group settlements and transactions.

Various business transactions and current settlements are carried out between the companies of the group, which are reflected in the balance sheets of the respective companies in the form of: debts of the founders for contributions to the authorized capital; advances given and received; loans; accounts receivable and accounts payable group companies; purchases (sales) of other assets between the companies of the group; expenses and income of future periods; accruals (for example, dividends), etc.

When compiling a consolidated balance sheet, these intra-group settlements both between the main (parent) company and subsidiaries, and between subsidiaries of the same group, must be mutually exclusive. This requirement is based on the fact that the consolidated financial statements reflect the financial and economic relationships of the group only with third parties.

Mutually exclusive items can be both in the asset balance of one company of the group, and in the liabilities side of the balance sheet of another company.

For organizations compiling consolidated financial statements, it is especially important to comply with the requirements of accounting regulations, including:

Prevention of folded reflection of articles on the accounting of settlement transactions;

Implementation of the procedure approved by the Ministry of Finance of the Russian Federation for settlements of parent (parent) organizations with their subsidiaries using account 79 “Settlements with subsidiaries (dependent) companies”, sub-account “Settlements with subsidiaries” (Order of the Ministry of Finance of the Russian Federation No. 112). This account is intended to summarize information on all types of settlements (with the exception of settlements on contributions to the authorized capital) of the parent organization with its subsidiaries and subsidiaries with the parent organization.

Intra-group sales of products (works, services) have a significant impact on the indicators of the consolidated report on financial results.

When preparing consolidated financial statements, two cases must be distinguished:

At the end of the reporting year, one company of the group sold products (works, services) to another company of the same group, and the latter then fully sold these products to a consumer outside the group (third parties);

At the end of the reporting year, one company of the group sold products (works, services) to another company of the same group, and the latter did not sell (in full or in part) these products to third parties.

In the first case, when consolidating financial results, the profits (losses) of the group companies are summed up. At the same time, the group's consolidated statement of financial results does not include proceeds from the sale of products (works, services), reflecting intra-group turnover, and related costs.

In the second case, the problem of reporting consolidation becomes more complicated when the products that make up the intragroup turnover remain unsold in the reporting year (or are partially sold). If we consider the group as a whole, then such products are not sold, they are reflected in the form of stocks in the balance sheet of the group company, and the profit received by one of the companies when selling products to another company is the unrealized profit of the group. When compiling the consolidated income statement, unrealized profit is excluded from the total profit (loss) of the group's reporting period.

When compiling the consolidated balance sheet of the group in liabilities, the undistributed profit (loss) of the reporting year (obtained according to the general rule by summing up similar indicators of the group companies) is reduced by the amount of unrealized profit; in the asset, the value of inventories decreases by the amount of unrealized profit (preliminarily obtained according to the general rule by summing up similar items in the balance sheets of the group companies). This is due to the fact that the unrealized profit was reflected in the holdings of the parent company.

The methodology for preparing consolidated financial statements in the presence of unrealized profits in inventories at the end of the year becomes more complicated when a subsidiary that has sold its products to other group companies (including the parent company) has a minority interest. In this case, the group share and the minority share must be distinguished from the unrealized profit in inventory. To solve this problem, when preparing consolidated financial statements in international practice apply various ways. Example 26 below uses the following method. In the consolidated income statement, all unrealized gains are excluded from group profits. In the asset of the consolidated balance sheet, the value of inventories is also reduced by the entire amount of unrealized profit. In the liability of the consolidated balance sheet, the part of unrealized profit corresponding to the share owned by the group is excluded from the retained earnings of the group. The minority share excludes the other part of the unrealized profit attributable to the minority share.

Example 26. The parent company "M 2" owns 75% of the ordinary shares of the subsidiary "D 2" from the moment of registration and the beginning of the activities of the latter. At the end of the year, the stocks of the company "M 2" include goods purchased from the company "D 2" for 8,000 thousand rubles. The costs for the production and sale of these goods from the company "D 2" amount to 6,000 thousand rubles.

Reporting balance sheets of companies are presented in Table. thirty.

Reporting balance sheets of companies "M 2" and "D 2" at the end of the year

Table 30

When drawing up a consolidated balance sheet:

1) unrealized profit in stocks is determined:

8000 thousand pyb. - 6000 thousand rubles. = 2000 thousand rubles;

2) the group's share in the profit and reserves of the subsidiary is established:

In the authorized capital 0.75 x 40,000 thousand rubles = 30,000 thousand rubles;

In additional capital 0.75 x 10,000 thousand rubles. = 30,000 thousand rubles;

In the reserve capital 0.75 x 5000 thousand rubles. = 3750 thousand rubles;

In retained earnings 0.75 x 5000 thousand rubles. = 3750 thousand rubles.

3) the part of unrealized profit corresponding to the share owned by the group is determined:

0.75 x 2000 thousand rubles = 1500 thousand rubles;

4) the undistributed profit of the group is reduced by the amount of unrealized profit corresponding to the share owned by the group:

3750 thousand rubles - 1500 thousand rubles. = 2250 thousand rubles;

5) the indicators of additional, reserve capital and the adjusted amount of retained earnings (clause 4) of the subsidiary, defined in paragraph 2, belonging to the group, are summed up with the corresponding indicators of the parent company and reflected in the consolidated balance sheet;

6) the minority interest in a subsidiary is calculated:

In the authorized capital 0.25 x 40,000 thousand rubles. = 10,000 thousand rubles;

In additional capital 0.25 x 40,000 thousand rubles. = 10,000 thousand rubles;

In the reserve capital 0.25 x 5000 thousand rubles. = 1250 thousand rubles;

In retained earnings 0.25 x 5000 thousand rubles. = 1250 thousand rubles.

Total 22,500 thousand rubles;

7) calculate the unrealized gain in inventory attributable to the minority:

0.25 x 2000 thousand rubles = 500 thousand rubles;

8) the minority interest calculated in paragraph 6 is reduced by the corresponding part of the unrealized profit:

RUB 22,500 thousand - 500 thousand rubles. = 22,000 thousand rubles.

The adjusted amount is reflected in a separate liability item of the consolidated balance sheet “Minority interest”;

9) the value of the group's reserves (assets of the consolidated balance sheet) is reduced by all unrealized profit in reserves in the amount of 2,000 thousand rubles;

10) investments of the parent company in the authorized capital of a subsidiary in the amount of 30,000 thousand rubles. are eliminated according to the general rule of capital consolidation.

The calculations made above (p. 1 - 10) are presented in table. 31.

The authorized capital of the consolidated balance sheet is equal to the authorized capital of the parent company (80,000 thousand rubles), and the calculated amount of retained earnings (2,000 thousand rubles) is reflected in the consolidated balance sheet as a separate line (see Table 31).

Based on example 26 in the consolidated income statement for the reporting year, group profit, taking into account unrealized profit in inventories, is presented as follows:

Profit of the parent company "M 2" 10,000 thousand rubles.

Profit of the subsidiary "D 2" in the share,

owned by the group 3,750 thousand rubles.

Total RUB 13,750 thousand

Excludes the group's share of profits not derived from the sale of inventories

(unrealized profit of the group) 1500 thousand rubles.

Retained earnings of the group RUB 12,250 thousand

Considered in this way, the amount of retained earnings is reflected in the consolidated balance sheet (see Table 31).

In addition to the situations considered in examples 25 and 26, the relationship between the enterprises of the group may concern

Table 31

Worksheet for compiling a consolidated balance sheet at the end of the year

Reflection in the consolidated balance sheet of unrealized profits in inventories.

The parent company (“M 2”) owns 75% of the ordinary shares of the subsidiary (“D 2”)

also purchases (sales) of property between the companies of the group, payment of premiums, fines and penalties in accordance with economic agreements, etc. Such mutual other income and expenses are not reflected in the consolidated financial statements.

One of the independent issues of consolidation of financial statements may be the reflection in it of dividends of the parent company and subsidiaries.

Part of the profit of the main company may be formed from dividends paid by subsidiaries. In the statement of financial results of the parent company, these dividends are shown in the line “Income from participation in other organizations”.

Since the payment of dividends by subsidiaries to the parent company is a redistribution of profits within the group, it is necessary to exclude double counting when compiling a consolidated income statement. For this purpose, the consolidated statement does not take into account dividends paid by subsidiaries of the parent company.

If the parent company owns 100% of the ordinary shares of a subsidiary, then the following rules should be followed when preparing a consolidated income statement:

Dividends paid by a subsidiary to a parent company should not be double-counted in group profits and are therefore not included in the group's consolidated financial statements;

The only type of dividend shown in the consolidated income statement is the dividend paid by the parent company.

If the parent company owns less than 100% of the ordinary shares of the subsidiary, then part of the dividends of the subsidiary is paid to the parent, and the other part to third-party shareholders of the subsidiary (minority). Dividends paid by a subsidiary to third party shareholders are included in the group's consolidated financial statements in the same way as parent company dividends.

Thus, the dividends paid do not require an adjustment to the consolidated balance sheet.

If the parent company has declared the payment of dividends, then in the consolidated balance sheet the declared dividends are included in short-term liabilities under the special item “Dividends declared by the parent company” and are simultaneously excluded from the retained earnings of the group.

If a subsidiary with a minority interest has declared the payment of dividends, then in the consolidated balance sheet dividends in the part attributable to the minority interest are reflected in short-term liabilities under the special item “Declared minority dividends” and are simultaneously excluded from the liability item “Minority interest”.

Consolidated financial statements of a group of enterprises

One of the promising areas of business development at present is the creation of groups of enterprises that are economically interconnected, but at the same time remain independent. legal entities, - concerns or holding firms in which one company, called head or maternal, controls one or more others.

There is no fundamental difference between a concern and a holding. The holding is also a concern, representing its special form, when the main company assumes only the functions of managing a group of enterprises, not being engaged in either production or sales of products.

Thanks to the creation of concerns and holdings, the enterprises included in them get the opportunity to access new technologies, expand their scope of activities, develop business ties, attract new qualified employees, and acquire loans. The positive point is also that the formation of groups of enterprises can significantly strengthen the investment potential of such an economic association, increase profitability and the technological level of production. The creation of enterprise groups opens up wide opportunities for a number of group savings operations financial resources, reduction of tax losses, coordination of financial and material flows within the group.

The balance sheets of individual enterprises cannot provide adequate information for analyzing the functioning of a group of enterprises - they can only be used in the analysis of a single enterprise. To identify the results of the analysis of the state and activities of such associations as concerns and holdings, special accounting statements are required - the so-called consolidated financial statements. I would like to immediately draw attention to the fact that the summary accounting reporting must be distinguished from consolidated reporting, which was previously compiled by the Allied ministries. The ministerial consolidated reporting was compiled by simply summing up the reporting articles of the same name of subordinate enterprises, as a result of which the report of the trust, the main department, and the consolidated report of the ministry were formed.

With this method of generalization, most of the indicators consolidated reporting- indicators of output, the number of employees, the wage fund, production costs, profits and losses, the state of the main and working capital and many others - were obtained by adding the indicators of the reports of enterprises. As a result, when summing items of the same name without taking into account internal operations, a double count appeared, the valuation of economic assets and the amount of reported profit were overestimated.

In contrast to the consolidated ministerial reporting consolidated financial statements or, as we call it, using the term adopted abroad, - consolidated reporting, implies something else. The starting point here is that with the formation of a concern, a new independent economic unit arises, in which subsidiaries, affiliates and joint (jointly controlled) enterprises occupy the position of economically non-independent units. That is why a simple addition of balance sheet items and a statement of financial results is not enough to get a real picture of the functioning of a group of enterprises. This requires consolidated accounts prepared using special methods that eliminate common items and double counting.

In Russia, this type of reporting is still little known and the rules for its preparation have not yet been fully regulated, despite the fact that the requirement for the preparation of consolidated financial statements has been included in the "Regulations on Accounting and Reporting" since 1992. Recently, certain attempts have been made to regulate accounting in this area. Thus, "Instructions on Accounting for Certain Operations" were issued, approved by Order of the Ministry of Finance of Russia dated July 28, 1995 No. 81, related to the entry into force of the first part of the Civil Code of the Russian Federation. Section 1 of the Guidelines in in general terms disclosed the procedure and rules for the consolidation of financial statements of affiliates and subsidiaries in the financial statements of the parent company. But, firstly, these rules are described in general terms, and, secondly, they contain serious flaws and some differences with international accounting standards (hereinafter referred to as IAS). Obviously, in the near future attempts will be made to level these differences, and our accountants will prepare consolidated financial statements in accordance with current international standards. You can try to do it now, given the shortcomings of Russian standards. In addition, companies, using international standards, will be able to "kill two birds with one stone": prepare consolidated financial statements that do not contradict Russian standards and save on attracting expensive foreign consultants to prepare consolidated financial statements in accordance with LSG.

Who and how prepares consolidated reporting

In paragraph 1.3 of the Instructions to the order of the Ministry of Finance of Russia dated July 28, 1995. No. 81 provides that each organization that has subsidiaries and affiliates must draw up consolidated annual financial statements. This requirement is in line with the MSU. The only difference is that, according to LSG, consolidated reporting includes performance indicators not only for subsidiaries and affiliates, but also for joint ventures.

International standards (as well as those of individual countries) make a distinction between subsidiaries, jointly controlled dependent companies. This division is due to varying degrees of control or influence of the parent company on one or

another enterprise. Control for consolidated reporting purposes can be decisive, joint and significant. First of all, one should highlight child enterprises for which, according to the local self-government system, the parent company provides decisive influence, those. has the ability to directly or indirectly ensure the adoption of certain decisions. Typically, this degree of control is achieved if the parent company has more than 50% of the voting shares or authorized capital of the subsidiary. This condition is stipulated by both international and Russian rules. However, an important flaw in Russian regulatory documents should be pointed out: they do not provide that, when determining the share of a parent company in a particular enterprise, its share of shares or authorized capital must be added to the shares and shares owned by other subsidiaries of this parent company.

A situation may arise when the parent company has less than half of the votes, but fully controls the subsidiary in accordance with the provisions of its charter on the basis of an agreement concluded with it on the parent company's leadership role, on the basis of an agreement with other shareholders and shareholders, etc. In terms of consolidation, fully controlled, i.e. subsidiary, the enterprise can be considered as belonging to the concern, as its constituent part. Therefore, the reporting data of subsidiaries in the preparation of consolidated financial statements are used in their full amount.

Joint or jointly controlled enterprises (they should not be confused with the enterprises we call joint ventures, i.e. enterprises with mandatory participation foreign capital) are enterprises or projects controlled jointly by several participants. In terms of content, this category of enterprises also includes the property of an economic unit created in the course of joint activities.

Joint ventures are controlled by at least two participants, one of which is part and the rest are not part of the group. In most cases, the participants are equal, and their shares are equal. The degree of influence of the parent company in the joint venture is less than in the subsidiary, and is determined by the share of its participation. The group in this case owns a certain part of the joint venture. Therefore, joint activities and joint ventures are included in the consolidated financial statements proportionately participation share parent company in a project or enterprise. This is achieved using the so-called method of proportional consolidation or consolidation of quotas (shares). In essence, it is similar to the full consolidation of subsidiaries with one difference: property and liabilities, expenses and income from joint activities are included in the consolidated statement, and transactions between the joint venture and the group are excluded from the consolidated statements. in proportion to the share of participation in a joint project or enterprise.

Dependent companies are not part of the group directly. They are characterized by the fact that one of the enterprises of the group provides significant influence on their economic policies. This usually happens if the group company directly or indirectly owns from 20 to 50% of the votes or share capital. This means that the company does not belong to the group and the group's participation in the dependent company has the character of a financial investment. Therefore, for the consolidation of such enterprises, a method is provided, called abroad Equity (shares in capital), according to which neither property, nor liabilities, nor income, nor expenses are transferred to the group's financial statements from the reports of dependent enterprises. The consolidated financial statements reflect only the cost of participation in affiliated enterprises and its change.