Disclosure of Subsidiaries with Non-controlling Interest in Accordance with IFRS 12: Case of Materiality

Gluzová, Tereza

doi:10.11118/actaun201664010275

Cited by 3 publications

(3 citation statements)

References 26 publications

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“…However, scarce literature is found. Gluzová (2015Gluzová ( , 2016Gluzová ( , 2017 attributes this scarcity to the recent adoption of the consolidation package (becoming mandatory only in 2014 with financial statements published in 2015). In fact, the number of studies that covered effective (ex post) effects of the adoption of both IFRS 10 and IFRS 11 is limited and do not provide a complete picture.…”

Section: Effects Of Adopting Ifrs 10 and Ifrs 11 And Research Questmentioning

confidence: 99%

Effects of adopting IFRS 10 and IFRS 11 on consolidated financial statements

Lopes

2019

MEDAR

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Purpose The purpose of this paper is to investigate how the adoption of IFRS 10 and IFRS 11 affected consolidated financial statements. Specifically, the paper explores whether entities adopted mandatorily or voluntarily both IFRS, whether expressly declared effects, whether considered those effects as material and whether those effects had impacts on selected items of financial statements and on selected financial ratios. Design/methodology/approach The research is an exploratory study using public entities from Germany, France and the UK. The majority of the data is manually collected from financial statements. Findings The results suggest that the adoption of the new IFRS 10 affected the composition of a large number of entity groups but that their financial information and economic-financial indicators do not present material changes. There is also evidence of a large and material impact on the changes in the classification and accounting for interests in arrangements under joint control through the new IFRS 11. The evidence thus suggests unequal effects of the adoption of IFRS 10 and IFRS 11 on the proportion of entities declaring materiality of effects, on the quantitative effects on selected items of financial statements, and on financial ratios. A comparison between the pre-adoption and post-adoption periods reveals that the majority of the effects are driven by the adoption of IFRS 11. Originality/value As far as is known this exploratory paper is the first presenting the effectiveness of adopting the most important standards under the “consolidation package” and opens an avenue for future research by academics, for future post-implementation reviews by IASB, and for analysis of peer reviews between accounting practitioners.

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Section: Effects Of Adopting Ifrs 10 and Ifrs 11 And Research Questmentioning

confidence: 99%

Effects of adopting IFRS 10 and IFRS 11 on consolidated financial statements

Lopes

2019

MEDAR

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“…Scientists from southern Africa, van Zijl, W. Maroun, W. [6] paid special attention to the formation of the CFS. Recognition of property rights in the construction of the CFS was investigated by German, Czech and Slovak scientists Casajus, A. Labrenz, H. [7] and Gluzová, T. [8].…”

Section: Literature Reviewmentioning

confidence: 99%

The Methods and evaluation of RIC Integrated Business Indicators

Prodanova¹,

Trofimova²,

Korshunova³

et al. 2019

IJITEE

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In the conditions of transition to international financial reporting standards (hereinafter – IFRS), the issues of developing a methodology for analyzing of the Russian consolidated financial statements, prepared in accordance with the requirements of the international format, are of particular relevance. In order to develop a methodology for analyzing of consolidated financial statements, the authors developed key indicators RIC of integrated business, based on the application of institutional analysis, as well as the coefficient method of relative indicators. The key RIC indicators, presented in the article, are intended to perform express analysis of consolidated financial statements, since they will provide a basic picture of the financial situation of a group through a series of simple calculations. The research results can be used in the transformation of statements, as well as in the construction of consolidated financial statements, generated in Russia in accordance with the IFRS requirements

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“…With our research we contribute to the available literature on company transformation in the Czech Republic, which is focused more on goodwill recognition and impairment (Boučková, 2016;Valouch and Králová, 2012), disclosure requirements (Gluzová, 2016;Nováková and Polák, 2015;Pospíšil, 2017) and other traits of M&A in the Czech Republic (Čibera, 2016;Zelenka, 2011;Vomáčková, 2006b). …”

Section: Introductionmentioning

confidence: 99%

Business Combinations of Czech Companies: Empirical Analysis of Their Typology

Pospíšil¹,

Vomáčková²

2018

Acta Univ. Agric. Silvic. Mendelianae Brun.

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This paper is a descriptive study which analyses company transformations -a subset of M&A -which took place in the Czech Republic in 2013. Based on the statistical sample containing detail data of 115 transformations, we analysed important aspects of company transformations (M&A) such as ownership structure of the participating companies, deployment of the effective date, acquisition date, balance-sheet date, date of registration and transformation project date, utilization of available forms of company transformations, utilization of financial statements for transformation purposes and incidence of fair-value revaluation. The results of the research shows, that majority of company transformations are in fact corporate holdings reorganisations rather than business combinations as defined by IFRS 3 and it also suggests that the rules for accounting for these transactions are in fact misused for distribution of earnings (even unrealized earnings) through the corporate holdings. We have also identified cases of severe distortion of faithful representation of successor's company financial position, most often as a result of retrospective company transformations, where the effective day of the merger was put before the date of acquisition of the majority on target's equity.

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Disclosure of Subsidiaries with Non-controlling Interest in Accordance with IFRS 12: Case of Materiality

Cited by 3 publications

References 26 publications

Effects of adopting IFRS 10 and IFRS 11 on consolidated financial statements

Effects of adopting IFRS 10 and IFRS 11 on consolidated financial statements

The Methods and evaluation of RIC Integrated Business Indicators

Business Combinations of Czech Companies: Empirical Analysis of Their Typology

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