CREATING CONSOLIDATED FINANCIAL REPORTS � ACCOUNTING, INFORMATIONAL AND MANAGERIAL ASPECTS

Abstract

The purpose of this study is to describe some of the problems in making consolidated financial reports. Several perspectives are analyzed � from accounting point of view, from information point of view and from managerial point of view. The accounting problems of financial consolidation are focused at the correct interpretation of legislation. The information problems concern the use of databases and specialized software for making consolidated reports. The managerial problems with financial consolidation concern business analysis and the correct interpretation of financial information in corporate financial reports. This paper gives some solutions to the three groups of problems concerning the financial consolidation. This paper describes a concept of a database to store financial data for consolidation. This paper also offers an approach for business analysis of financial consolidated data.

Keywords

• consolidation
• databases
• management
• accounting