Consolidation of financial statements 2600-MSFRdz2rrfKSF
The introduction to the classes will be an introduction to the essence and structure of the capital group and related entities. The classes cover issues related to basic regulations regarding consolidation and merger of enterprises (reporting and asset consolidation). The objectives of consolidating financial statements in the context of implementing accounting principles will be presented. The subjective and objective scope of consolidated financial statements will be discussed in connection with the subjective and objective exemptions of the capital group from the obligation to consolidate financial statements.
As an introduction to consolidation methods, the relationships between the group's entities will be discussed. The basic consolidation method discussed will be the full consolidation method. The essence and scope of using the full method will be presented, determining the fair value of the assets and liabilities of a subsidiary, summing up the relevant items in the financial statements of the parent company and the subsidiary, applying capital inclusions, calculating the consolidation difference, determining minority capital, writing off consolidation differences, taking into account consolidation inclusions other than capital ones.
The proportional method in consolidation will also be characterized in the following areas: essence, determining the fair value of assets and liabilities of a jointly controlled entity, capital adjustments, exclusion of the effects of mutual transactions, write-off of goodwill.
The last method discussed will be the equity method in the scope of: the essence and scope of use of the equity method, valuation of shares using the equity method as at the date of their acquisition, adjustments used in the equity method, use of the equity method in the balance sheet valuation of financial statements.
The summary of the classes will be a discussion of the principles of settlement of mergers and acquisitions - a discussion of the method of purchasing and combining shares when combining financial statements.
Type of course
Mode
Learning outcomes
Student after completing the course:
In terms of knowledge:
K_W01 Knows and understands in-depth research methodology and terminology in the field of management and quality science as well as economics and finance, in particular in the area of financial management and accounting regarding the consolidation of financial statements.
K_W02 Knows and understands in-depth the principles, procedures and practices regarding financial management in organizations, in particular in the field of accounting of capital groups.
K_W03 Knows and understands in-depth economic theories and models regarding the functioning of organizations and the entire economy in the consolidated reporting of capital groups.
K_W04 Knows and understands in-depth legal regulations regarding the functioning of organizations and the entire economy in the area of consolidation of financial statements.
In terms of skills:
K_U01 Is able to use the theory of the discipline of management science and quality of economics and finance to recognize, diagnose and solve problems related to financial decisions in capital groups, using the appropriate selection of sources to prepare consolidated financial statements.
K_U02 Is able to correctly interpret complex technological, social, legal and economic processes and phenomena and their impact on financial decisions in capital groups and their functioning, using the appropriate selection of information sources.
K_U06 Has the ability to self-educate, improve acquired qualifications and support others in this area in relation to consolidated reporting.
In terms of social competences:
K_K01 Is ready to assess and critically approach complex situations and phenomena related to financial management in capital groups and accounting of capital groups.
K_K03 Is ready to comply with and develop professional ethical standards in the financial reporting process.
Assessment criteria
Learning outcomes will be verified on an ongoing basis through tasks performed by participants during seminars. Additionally, participants receive bonuses for their activity during classes, which increase their final grade. The grade for passing the seminar is the result of:
20% work in classes;
80% final test.
Bibliography
Basic items:
1. Ustawa o rachunkowości z dnia 29 września 1994. Dz. U. nr 121, poz. 591.
2. Gierusz A., Gierusz M., Konsolidacja sprawozdań finansowych według MSSF, ODDK, Gdańsk 2019.
3. Remlein M., Rachunkowość grup kapitałowych, PWN, Warszawa 2019.
4. Ruciński A., Konsolidacja sprawozdań finansowych, CH Beck, Warszawa 2015.
5. Ignatowski R., Konsolidacja sprawozdań finansowych, ODDK, Gdańsk 2012.
6. Ustawa z dnia 11 maja 2017 r. o biegłych rewidentach, firmach audytorskich oraz nadzorze publicznym (Dz. U. 2017 poz. 1089).
Additional items:
1. Pfaff J., Strojek-Filus M., Podstawy rachunkowości z uwzględnieniem MSSF, PWN , Warszawa 2020.
2. Turyna J., Rachunkowość finansowa, Wydawnictwo C.H. Beck, Warszawa 2014.
3. Rachunkowość finansowa z uwzględnieniem MSSF, red. J. Pfaff, Warszawa, PWN, 2017.
4. Trocki M., Grupy kapitałowe, PWN Warszawa 2004
5. Rozporządzenie Ministra Finansów z dnia 25 września 2009 r. w sprawie szczegółowych zasad sporządzania przez jednostki inne niż banki, zakłady ubezpieczeń i zakłady reasekuracji skonsolidowanych sprawozdań finansowych grup kapitałowych, aktualny stan prawny (ostatni tekst jednolity ze zmianami).
6. Międzynarodowy Standard Sprawozdawczości Finansowej (MSSF) nr 10.
Additional information
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: