Course detail

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.

Language of instruction

Czech

Number of ECTS credits

5

Mode of study

Not applicable.

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.

Prerequisites

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..

Co-requisites

Not applicable.

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.

Course curriculum

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.

Work placements

Not applicable.

Aims

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.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

ČÚS pro podnikatele č.003 Odložená daň, č.011 Operace s podnikem, č.020 Konsolidace (CS)
FEDOROVÁ, A. Průvodce studiem předmětu konsolidace účetní závěrky. VUT v Brně, 2017. (CS)
Vyhláška č.500/2002Sb., kterou se provádějí některá ustanovení zákona o účetnictví (CS)
Zákon č.593/1991Sb., o účetnictví (CS)

Recommended reading

JONÁŠ, R., LOJA, R. Konsolidovaná účetní závěrka podle českých předpisů v příkladech. Praha: VOX. 2016. ISBN 978-80-87480-52-6. (CS)
VAŠEK, L., HORNICKÁ, R. Konsolidace ekvivalence majetkových účastí podle IFRS. Praha: Wolters Kluwer, 2013. ISBN 978-80-7357-969-2. (CS)

Classification of course in study plans

  • Programme MGR-KS Master's

    branch MGR-UFRP-KS-D , 1 year of study, summer semester, compulsory

  • Programme MGR-UFRP-KS Master's 1 year of study, summer semester, compulsory

Type of course unit

 

Guided consultation in combined form of studies

16 hod., optionally

Teacher / Lecturer

Syllabus

Familiarisation with reports from the consolidated financial statements
The level and degree of influence of enterprises in a group
Use and calculation of the individual methods of consolidation in the group
Excluding operations between enterprises in a group
Calculation of the consolidated difference
Processing the consolidated financial statements by individual consolidation methods