Conceptual framework for the formation of consolidated financial statements in the agricultural holding

The reasons for the spread of holding structures in the Russian Federation are a reduction in the risk of property loss in a group of interconnected enterprises, the integration of successive stages of the technological process, the manifestation of scale effects and multiplicative effects of corporate property, and tax optimization. IFRS define the basic principles of presentation and preparation of consolidated financial statements, and are mandatory for organizations named in the Law of the Russian Federation No. 208 FZ dated July 27, 2010. Clause 1, Article 2. "On Consolidated Financial Statements", the consolidation mechanism itself is determined by the parent and its subsidiaries. We consider it necessary to provide the investor with not only consolidated financial statements, but also personalized (intercompany) information about the organization, a member of the consolidated group that discloses information, according to the concept. We have presented the goal, the concept of the reporting organization and the application of qualitative characteristics (principles), the reporting elements applied to the consolidated financial statements. At present, there are no developed methodologies for organizing consolidated accounting and compiling consolidated reports at agricultural holdings, which creates information deficiencies in management, prevents a reliable assessment of the financial condition of groups of interrelated enterprises, and makes it impossible for them to manage resources, expenses and incomes. In this regard, the algorithm for the formation of consolidated statements in the agricultural holding, which takes into account all the necessary procedures, including internal supplementary document flow allowing elimination and the relationship between group members in the process of financial reporting, its consolidation, control and analysis.