Consolidated Financial Statements
FP-FkuzKAcad. year: 2019/2020
The course is focused on the issue of producing the consolidated financial statements. Students gain a knowledge of consolidating a group of enterprises, of methods of consolidating financial statements and gain the skills necessary for producing consolidated financial statements.
Learning outcomes of the course unit
Students gain a knowledge of groups of enterprises coming under the consolidated financial statement, a theoretical knowledge of the methods of consolidation and the basic practical skills needed for producing consolidated financial statements.
The following are the prerequisites for the account statement consolidation course:
- financial accounting knowledge and skills
- a capacity to prepare individual financial statements
- knowledge of the information value of each part of an individual financial statements..
Recommended optional programme components
Recommended or required reading
Zákon č.593/1991Sb., o účetnictví
ZELENKA, V., ZELENKOVÁ, M. Konsolidace účetních výkazů. Praha: Ekopress, s.r.o., 2013. ISBN 978-80-86929-95-8.
Vyhláška č.500/2002Sb., kterou se provádějí některá ustanovení zákona o účetnictví
VAŠEK, L., HORNICKÁ, R. Konsolidace ekvivalence majetkových účastí podle IFRS. Praha: Wolters Kluwer, 2013. ISBN 978-80-7357-969-2.
ČÚS pro podnikatele č.003 Odložená daň, č.011 Operace s podnikem, č.020 Konsolidace
JONÁŠ, R., LOJA, R. Konsolidovaná účetní závěrka podle českých předpisů v příkladech. Praha: VOX. 2016. ISBN 978-80-87480-52-6.
FEDOROVÁ, A. Průvodce studiem předmětu konsolidace účetní závěrky. VUT v Brně, 2017.
Planned learning activities and teaching methods
Lectures consist of an explanation of basic principles, methodology of the given discipline, problems and model solutions. Seminars support practical mastery of the subject matter presented in lectures or assigned for individual study.
Attendance at lectures is recommended. Attendance at seminars is monitored.
Assesment methods and criteria linked to learning outcomes
In the combined form of study the students independently process practical tasks, focused on the use of individual methods of consolidation, calculation of the consolidated difference and exclusion of relationships between enterprises in the group. E-learning is used to assign tasks, monitor and assess them. The overall evaluation of fulfilled tasks is carried out in accordance with the ECTS scale.
Language of instruction
In the course Consolidated Financial Statements students are familiarised with the accounting outputs of ownership-linked groups, with methods for processing consolidated accounting statements, and the practical approaches required for the consolidation of accounting outputs.
1. Describing consolidated financial statements, Czech and international legislation for consolidation
2. Groups of enterprises, consolidation of the whole
3. Methods of consolidation – full method
4. Methods of consolidation – relative and equivalence
5. Consolidation difference and its ascertainment
6. Organisation of processing consolidated financial statements.
The course objectives are:
- to understand the logic of processing accounting outputs of an ownership-linked group
- to understand the consolidated financial statements
- to know and be able to work with the methods of preparing consolidated financial statements
Specification of controlled education, way of implementation and compensation for absences
Attendance at seminars is monitored. Seminar exercises include preparing a consolidated balance sheet and a consolidated profit and loss account. The exercises submitted are graded on a scale of 0 to 40 points. To get the credit for the seminars a student has to receive at least 50 %, i.e. 20 points.