Recent Accounting Standard Setting Changes for Consolidated Financial Statements

In the current context of globalization, a large number of companies sought to develop as a group in order to reach to other markets or meet the necessary criteria for listing on a stock exchange. The issue of consolidated financial statements prepared by a parent, an investor or a venture and the financial reporting standards guiding them therefore becomes even more important. The aim of our paper is to expose this issue in a consistent manner, first by summarizing the international accounting and financial reporting standards applicable before the 1st of January 2013 and considering the role of the crisis in shaping the standard setting process, and secondly by analyzing the newly issued/modified standards and main changes being brought

• Maria Damian
• Carmen G. Bonaci
• Jiří Strouhal
• Razvan V. Mustata
• Dumitru Matis
• Jiřina Bokšová

• Consolidated financial statements
• control
• IFRS 10
• financial crisis.

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