|Generate QR code
Open Access
Subscription Access
Integrated corporate structures: problems of accounting theory and methodology
https://doi.org/10.34020/2073-6495-2025-1-195-210
Abstract
In the article, the theoretical and methodological problems of reflecting accounting information on the activities of integrated corporate structures are discussed. The current state of the consolidated financial statements and the consolidated accounting is considered. The current problem of conducting non-equity consolidation of the financial statements of parent and subsidiary companies has been studied. The methodological problem of compiling combined financial statements is analyzed. The article highlighted two approaches to the preparation of consolidated financial statements. As a result, a matrix of theoretically possible accounting methods for integrated corporate structures was proposed.
About the Author
S. V. Kolchugin
Novosibirsk State Technical University; Siberian University of Consumer Cooperation
Russian Federation
Russian Federation
Kolchugin Sergei V. – Candidate of Economic Sciences, Associate Professor, Department of Computer Science in Economics; Department of Accounting, Analysis and Auditing
Novosibirsk
References
1. Kolchugin S.V. Osnovy formal’no-aksiomaticheskoj teorii buhgalterskogo uchjota [Fundamentals of the formal axiomatic theory of accounting]. Novosibirsk: NGUJeU, 2019. 464 p.
2. Abad C., Laffarga J., García-Borbolla A. An Evaluation of the Value Relevance of Consolidated versus Unconsolidated Accounting Information, Journal of International Financial Management & Accounting, 2000, vol. 11, iss. 3, pp. 156–177.
3. Arcady A.T. Understanding the latest changes in consolidated financial statements, Journal of Corporate Accounting & Finance, 1999, vol. 10, iss. 4, pp. 39–53.
4. Beckman H. The New EU-Directive on Annual and Consolidated Financial Statements, European Company Law, 2013, vol. 10, iss. 6, pp. 199–212.
5. Belcher F.E., Stickney C.P. Business combinations & consolidated financial statements. Homewood Illinois, Richard D. Irwin Inc., 1983. 378 p.
6. Ben-Shahar D., Sulganik E., Tsang D. Does IFRS 10 on Consolidated Financial Statements Abandon Accepted Economic Principles, Australian Accounting Review, 2019, vol. 26 (4), iss. 79, pp. 341–345.
7. Benis M. The Non-Consolidated Finance Company Subsidiary, The Accounting Review, 1979, vol. 54, iss. 4, pp. 808–814.
8. Burroughs R.J. Consolidated Balance Sheet and Income Statement for Agriculture, American Journal of Agricultural Economics, 1945, vol. 27, iss. 2, pp. 463–472.
9. Campbell J.D. Consolidation vs. Combination, The Accounting Review, 1962, vol. 37, iss. 1, pp. 99–102.
10. Christopher N. An Analysis of the International Development of the Equity Method, Abacus, 2002, vol. 38, iss. 1, pp. 16–45.
11. Edwards J.R. The Process of Accounting Innovation: The Publication of Consolidated Accounts in Britain in 1910, The Accounting Historians Journal, 1991, vol. 18, iss. 2, pp. 113–132.
12. Gardini S., Grossi G. Voluntary adoption of the consolidated financial statement and fair value, Journal of Public Budgeting, Accounting & Financial Management, 2014, vol. 26, iss. 2, pp. 313–344.
13. Heald D., Georgiou G. Consolidation principles and practices for the UK government sector, Accounting and Business Research, 2000, vol. 30, iss. 2, pp. 153–167.
14. Ketz E.J. Accounting for Business Combinations in an Age of Changing Prices, Accounting and Business Research, 1984, vol. 14, iss. 55, pp. 209–216.
15. Kitchen J. The accounts of British holding company groups: development and attitudes to disclosure in the early years, Accounting and Business Research, 1972, vol. 2, iss. 6, pp. 114–136.
16. Kolchugin S.V. Mathematization of the theory and methodology of accounting in the first half of the twentieth century. 1st International Scientific Conference on Modern Management Trends and the Digital Economy – From Regional Development to Global Economic Growth (MTDE), Inst Int Relat, Yekaterinburg, Russia: Apr 14–15, 2019 proceedings of the 1st International scientific conference modern management trends and the digital economy: from regional development to global economic growth (MTDE 2019): Aebmr-Advances in Economics Business and Management Research, 2019, vol. 81. P. 735–739.
17. Kolchugin S.V. Historical evolution of the axiomatic method in accounting: Russian experience. Economic and Social Development (Book of Proceedings), 47th International Scientific Conference on Economic and Social Development. Prague, 14–15 November 2019. Prague, 2019. Pp. 167–175.
18. Krimpmann A. Principles of Group Accounting under IFRS. United Kingdom, John Wiley & Sons Ltd., 2015. 864 p.
19. Kuhn T.S. The structure of scientific revolutions. London, The University of Chicago Press, Ltd., 1996. 212 p.
20. Lopes A.I., Lourenço I., Soliman M. Do alternative methods of reporting non-controlling interests really matter? Australian Journal of Management, 2013, vol. 38, iss. 1, pp. 7–30.
21. Lopes A.I., Lopes M. Effects of adopting IFRS 10 and IFRS 11 on consolidated financial statements, Meditari Accountancy Research, 2018, vol. 27 (1), iss. 34, pp. 91–124.
22. Moonitz M. The entity theory of consolidated statements. American Accounting Association, 1944. 102 p.
23. Pacter P. Consolidations and Deferred Income Taxes, Journal of Accounting, Auditing & Finance, 1994, vol. 9 (3), iss. 12, pp. 607–618.
24. Parker R.H. Explaining National Differences in Consolidated Accounts, Accounting and Business Research, 1977, vol. 7, iss. 27, pp. 203–207.
25. Robson T.B. Consolidated and other group accounts. New York, Garland Pub., 1982. 148 p.
26. Rosenfield P., Rubin S. Consolidation, Translation and the Equity Method: Concepts and Procedures. John Wiley & Sons, 1985. 252 p.
27. Shaw J.C. Criteria for Consolidation, Accounting and Business Research, 1976, vol. 7, iss. 25, pp. 71–78.
28. Taylor P.A. Consolidated Financial Reporting. USA and Canada, Markus Wiener Publishers, 1996. 416 p.
29. Whittred G. The Evolution of Consolidated Financial Reporting in Australia, Abacus, 1986, vol. 22, iss. 2, pp. 103–120.
30. Whittred G. The Evolution of Consolidated Financial Reporting in Australia. An Evaluation of Alternative Hypotheses. London, Routledge, 1988. 183 p.
31. Wyatt A.R. A critical study of accounting for business combinations. Accounting research study № 5. New York, American institute of CPAs, 1963. 146 p.
32. Accounting Research Bulletins № 51 «Consolidated Financial Statements». Issued by the Committee on Accounting Procedure American Institute of Certified Public Accountants (AICPA). August, 1959. 51 p.
33. Conceptual Framework for Financial Reporting. Available at: https://www.ifrs.org/issued-standards/list-of-standards/conceptual-framework.html/content/dam/ifrs/publications/html-standards/english/2021/issued/cf/ (accessed: 27.10.2024).
34. IFRS 3 «Business Combinations». Available at: https://www.ifrs.org/issued-standards/list-of-standards/ifrs-3-business-combinations/#standard (accessed: 27.10.2024).
35. IFRS 10 «Consolidated Financial Statements». Available at: https://www.ifrs.org/issued-standards/list-of-standards/ifrs-10-consolidated-financial-statements.html/content/dam/ifrs/publications/html-standards/english/2021/issued/ifr19/ (accessed: 27.10.2024).
36. IFRS 11 «Joint Arrangements». Available at: https://www.ifrs.org/issued-standards/list-of-standards/ifrs-11-joint-arrangements.html/content/dam/ifrs/publications/html-standards/english/2021/issued/ifr16/ (accessed: 27.10.2024).
37. IFRS 12 «Disclosure of Interests in Other Entities». Available at: https://www.ifrs.org/issued-standards/list-of-standards/ifrs-12-disclosure-of-interests-in-other-entities.html/content/dam/ifrs/publications/html-standards/english/2021/issued/ifr17/ (accessed: 27.10.2024).
38. IAS 28 «Investments in Associates». Available at: https://www.ifrs.org/issued-standards/list-of-standards/ias-28-investments-in-associates-and-joint-ventures.html/content/dam/ifrs/publications/html-standards/english/2021/issued/ia28/ (accessed: 27.10.2024).
Review
For citations:
Kolchugin S.V. Integrated corporate structures: problems of accounting theory and methodology. Vestnik NSUEM. 2025;(1):195-210. (In Russ.) https://doi.org/10.34020/2073-6495-2025-1-195-210
Email this article 
