Consolidated financial statements

Ellen Haustein
Peter C. Lorson
Eugenio Anessi-Pessina

This chapter introduces consolidated financial reporting in general and highlights public sector specifics. The aim is to provide insights into the concept of ‘group’ or ‘economic entity’, the reasons for consolidation, the peculiarities of the public sector, and the underlying theories of consolidation. The different types of influences and consolidation methods are explained. The chapter outlines the differences between consolidated financial statements and whole of government accounts and shows organisational challenges for preparing consolidated financial statements. Finally, a short overview about consolidated financial reporting in selected European countries is presented.

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ISBN: 978-989-26-2463-1
eISBN: 978-989-26-2464-8
DOI: 10.14195/978-989-26-2464-8_11
Área: Public Sector; Accounting; PSA; Fina
Páginas: 375-413
Data: 2023

Palavras-Chaves
Consolidation
consolidated financial reporting
whole of government accounting

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Outros Capítulos (17)

Foreword
Peter C. Lorson;Ellen Haustein;Susana Jorge
https://doi.org/10.14195/978-989-26-2464-8_0

Introduction
Peter C. Lorson;Ellen Haustein;Susana Jorge
https://doi.org/10.14195/978-989-26-2464-8_0.1

Approaches to public sector accounting and reporting in Europe
Ellen Haustein;Peter C. Lorson
https://doi.org/10.14195/978-989-26-2464-8_1

Specificities of Public Sector Accounting: Insights for governmental accounting from history and theory
Yuri Biondi
https://doi.org/10.14195/978-989-26-2464-8_2

Budgets a nd budgetary accounting
Lasse Oulasvirta
https://doi.org/10.14195/978-989-26-2464-8_3

Theoretical approaches to financial accounting purposes and principles
Lasse Oulasvirta
https://doi.org/10.14195/978-989-26-2464-8_4

Different Perspectives in Public Sector Accounting Harmonisation: IFRS, IPSAS and GFS
Giovanna Dabbicco
https://doi.org/10.14195/978-989-26-2464-8_5

IPSAS: History, spread and use
Caroline A. Pontoppidan
https://doi.org/10.14195/978-989-26-2464-8_6

The IPSASB’s conceptual framework and views on selected national frameworks
Susana Jorge;Josette Caruana
https://doi.org/10.14195/978-989-26-2464-8_7

Reporting components and reliability issues
Susana Jorge;Josette Caruana
https://doi.org/10.14195/978-989-26-2464-8_8

Overview of IPSAS on public sector specific topics
Ellen Haustein;Peter C. Lorson;Christophe Vanhee;Johan Christiaens
https://doi.org/10.14195/978-989-26-2464-8_9

IPSAS: case study
Ellen Haustein;Peter C. Lorson;Christophe Vanhee;Johan Christiaens
https://doi.org/10.14195/978-989-26-2464-8_10