HISTORY OF OCCURRENCE AND DEVELOPMENT OF THE INSTITUTE OF CONSOLIDATED REPORTING IN RUSSIA
Specifies fundamental elements by which arose and developed the Institute of consolidated financial statements in Russia and in other countries. Emphasized that as a result of consolidation form a unified financial reports, describing the results of the joint activity of the group companies as a generalized single economic entity. The estimation of the values of the consolidated financial statements for external and internal users and first of all for shareholders and investors. It is noted that with the development and spread of IFRS preparation of consolidated financial statements in accordance with IFRS was accepted world practice. In the work reveals the process of formation of basic elements of an infrastructure of IFRS application in Russia, the meaning and scope of the Federal law «On consolidated financial reporting». At the same time emphasized that the application of IFRS depends not only on the availability of infrastructure, but also the quality of the international standards, so the examination of their application on the territory of the Russian Federation should be given due attention.