The aim of the discipline acquisition- accumulating by students theoretical knowledge of the regulations and the content of the main domestic and international financial reporting standards according to business combinations and consolidation of financial statements, as well as mastering practical skills on application procedures related to the preparation and presentation of consolidated financial Package Reporting group companies.
The task of the discipline is to provide to the students an understanding of  basic principles and procedures for the consolidation of the financial statements, approaches to the recognition and disclosure of financial statement items, the choice of accounting policies and the establishment of businesses.
The list of competencies which a student gets after mastering the discipline.
Results of educational:
- know: the essense and types of enterprise associations; the ways to establish control by one company over another and schemes of relationships between enterprises; the essence of the consolidated financial statements and the general requirements for it; what do the terms "parent undertaking", "subsidiary" and the group " mean; significant accounting  aspects of enterprises; methods of recording and reporting of goodwill, minority interest and intragroup transactions; method of preparation of consolidated financial statements for a group of companies;
- be able to: identify the buyer in the transaction of the business combination; apply the criteria of control; calculate the value of goodwill at the acquisition date and the reporting date; calculate the value of minority interest; processes to consolidate financial statements at the date of the creation and subsequent periods of activity; translate statements of subsidiaries operating abroad, the reporting currency of the parent company; consolidated financial statements in terms of diversification.
Contents of the subjectis revealed in the following topics: essence and types of enterprises. Conceptual Principles of consolidation financial statements. Methods of consolidation of financial statements. Accounting transactions of the parent and its subsidiaries. Procedures and methods of preparation of consolidated financial statements at the date of creation. Consolidation of financial statements of companies in the following periods of activity. The procedure for consolidating the financial statements of foreign operations. Methods of preparation of consolidated accounts in terms of diversification.