FINANCIAL STATEMENTS

5 disadvantages of consolidated financial statements

5 disadvantages of consolidated financial statements.

Consolidated financial statements are the “Financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent (company) and its subsidiaries are presented as those of a single economic entity”.



The following are shortcomings of consolidated financial statements:

Unprofitable companies are set off against

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The IFRS Advisory Council – explained.

The IFRS Advisory Council is the formal advisory body to the IASB and the Trustees of the IFRS Foundation. It consists of a wide range of representatives from groups that are affected by and interested in the IASB’s work. These include investors, financial analysts and other users of financial statement, as well as preparers, academics, auditors, regulators, professional accounting bodies … Read the rest