CONSOLIDATED FINANCIAL STATEMENTS APPLYING NATIONAL AND INTERNATIONAL FINANCIAL REPORTING REGULATIONS
Multinational companies operating in the global market have a diverse system of relationships. These companies form relationships through investments and cross-border transactions that bring them into a relationship of interest, ownership and dependence with each other. It is important for stakehold...
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| Format: | Article |
| Language: | English |
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Romanian Foundation for Business Intelligence
2020-12-01
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| Series: | SEA: Practical Application of Science |
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| Online Access: |
http://seaopenresearch.eu/Journals/articles/SPAS_24_9.pdf
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| _version_ | 1819282552732516352 |
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| author | Angelika DIENES Bence András BÁCS |
| author_facet | Angelika DIENES Bence András BÁCS |
| author_sort | Angelika DIENES |
| collection | DOAJ |
| description | Multinational companies operating in the global market have a diverse system of relationships. These companies form relationships through investments and cross-border transactions that bring them into a relationship of interest, ownership and dependence with each other. It is important for stakeholders to access a statement on these groups of companies that provides an adequate, realistic picture of the enterprises. Based on separate statements, the presentation of a realistic picture cannot be ensured. The widely accepted tool that can be used to provide stakeholders with combined statements excluding internal relations of the groups of companies is consolidated accounting. This study presents the application of the European Union’s mandatory accounting regulations in Hungary in accordance with the alteration of Hungarian regulations. Despite the obligations, it is also shown that the major reasons motivating these companies to transition from Hungarian to IFRS reporting are their parent companies. |
| first_indexed | 2024-12-24T01:17:24Z |
| format | Article |
| id | doaj.art-65f152752be34e74a0fc3e9291769f26 |
| institution | Directory Open Access Journal |
| issn | 2360-2554 |
| language | English |
| last_indexed | 2024-12-24T01:17:24Z |
| publishDate | 2020-12-01 |
| publisher | Romanian Foundation for Business Intelligence |
| record_format | Article |
| series | SEA: Practical Application of Science |
| spelling | doaj.art-65f152752be34e74a0fc3e9291769f262022-12-21T17:22:45ZengRomanian Foundation for Business IntelligenceSEA: Practical Application of Science2360-25542020-12-01VIII24 (3/2020)329336seapas:y:2020:i:24:p:329-336CONSOLIDATED FINANCIAL STATEMENTS APPLYING NATIONAL AND INTERNATIONAL FINANCIAL REPORTING REGULATIONSAngelika DIENES0Bence András BÁCS1 Faculty of Economics and Business, University of Debrecen, Debrecen, Hungary Faculty of Economics and Business, University of Debrecen, Debrecen, Hungary Multinational companies operating in the global market have a diverse system of relationships. These companies form relationships through investments and cross-border transactions that bring them into a relationship of interest, ownership and dependence with each other. It is important for stakeholders to access a statement on these groups of companies that provides an adequate, realistic picture of the enterprises. Based on separate statements, the presentation of a realistic picture cannot be ensured. The widely accepted tool that can be used to provide stakeholders with combined statements excluding internal relations of the groups of companies is consolidated accounting. This study presents the application of the European Union’s mandatory accounting regulations in Hungary in accordance with the alteration of Hungarian regulations. Despite the obligations, it is also shown that the major reasons motivating these companies to transition from Hungarian to IFRS reporting are their parent companies. http://seaopenresearch.eu/Journals/articles/SPAS_24_9.pdf consolidationconsolidated financial statementsifrs financial statements |
| spellingShingle | Angelika DIENES Bence András BÁCS CONSOLIDATED FINANCIAL STATEMENTS APPLYING NATIONAL AND INTERNATIONAL FINANCIAL REPORTING REGULATIONS SEA: Practical Application of Science consolidation consolidated financial statements ifrs financial statements |
| title | CONSOLIDATED FINANCIAL STATEMENTS APPLYING NATIONAL AND INTERNATIONAL FINANCIAL REPORTING REGULATIONS |
| title_full | CONSOLIDATED FINANCIAL STATEMENTS APPLYING NATIONAL AND INTERNATIONAL FINANCIAL REPORTING REGULATIONS |
| title_fullStr | CONSOLIDATED FINANCIAL STATEMENTS APPLYING NATIONAL AND INTERNATIONAL FINANCIAL REPORTING REGULATIONS |
| title_full_unstemmed | CONSOLIDATED FINANCIAL STATEMENTS APPLYING NATIONAL AND INTERNATIONAL FINANCIAL REPORTING REGULATIONS |
| title_short | CONSOLIDATED FINANCIAL STATEMENTS APPLYING NATIONAL AND INTERNATIONAL FINANCIAL REPORTING REGULATIONS |
| title_sort | consolidated financial statements applying national and international financial reporting regulations |
| topic | consolidation consolidated financial statements ifrs financial statements |
| url |
http://seaopenresearch.eu/Journals/articles/SPAS_24_9.pdf
|
| work_keys_str_mv | AT angelikadienes consolidatedfinancialstatementsapplyingnationalandinternationalfinancialreportingregulations AT benceandrasbacs consolidatedfinancialstatementsapplyingnationalandinternationalfinancialreportingregulations |