Consolidated financial statements are prepared by the parent companies. Consolidated statements include financial reporting of all affiliated companies, excluding the cases, when:

• control over an affiliated company is temporary, since it was acquired for resale within  a short period of time;
• an affiliate operates in an environment that limits its ability to transfer any assets to the parent company. The assets of such affiliates are posted as financial investments.

As you can see, almost all parent companies have to have consolidated financial statements.

We can assist you in preparation of consolidated financial statements, or, if you wish, we can prepare your consolidated financial statements. For this purpose we:

• get acquainted with the activities and businesses of the companies and enterprises the statements of which has to be consolidated;
• perform audit or review of the financial statements of all affiliates and a parent company to confirm correspondence to the general accounting policy for similar operations and events;
• reconcile inter-group balances and transactions, detect unrealized profits or losses;
• define minority share in capital and financial results of affiliates;
• prepare tables for the consolidated statements;
• prepare and present consolidated financial statements.

If there is a need, we can prepare financial statements of an affiliated company for consolidation in line with the parent company's accounting principles, including consolidation with foreign parent company in any format requested.

• control over a daughter company is temporary, since it was purchased with the intention to be resold within a limited period of time;
• a daughter company operates under conditions that limit its ability to transfer any assets to the parent company. The assets of such companies are posted as investments.

As you can see, almost all mother companies have to have consolidated financial reporting.

We can assist you in preparation or, if you wish, we can prepare your consolidated statements. We shall do the following:

• Get acquainted with the activities and businesses of the companies and enterprises the reporting of which has to be consolidated;
• Conduct review and examination of the financial reporting of all daughter companies and a parent company to confirm correspondence to the general accounting policy for similar operations and actions;
• Reconcile inter-group balances and operations, find unrealized profits or losses;
• Define minority share in capital and financial results of daughter companies;
• Prepare Tables for the consolidated reporting;
• Prepare and present consolidated financial reporting.

If there is a need, we can prepare financial statements of a daughter company to be consolidated in line with the parent company's accounting principles, including consolidation with foreign parent company in any format requested.

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