THE ROLE OF COMBINED FINANCIAL STATEMENTS IN THE DEVELOPMENT OF MODERN BUSINESS AND THE PROBLEMS OF ITS PREPARATION

The article considers the role of combined financial statements in providing users with information about groups of companies that do not meet the definition of a group in accordance with IFRS 10, but are actually under the control of one investor. It was determined that until recently, consolidated financial statements were not required for a legally unrelated group of companies, but the updated Conceptual Framework for Financial Reporting introduced the term «combined financial statements», which may be required for different user needs. However, the preparation of such financial statements can be complicated because IFRS do not provide detailed guidance on their preparation. In Ukraine, the main users of such financial statements are banks, which can determine the perimeter of a reporting entity based on the relatedness of counterparties or the existence of common control. The article examines the regulatory documents that disclose the concept and requirements for the presentation of combined financial statements, define the conditions and procedures applied to the preparation of combined financial statements. The boundaries of the entity are determined by the information needs of the main users, but the key element is the availability of general control. The author identifies global regulatory trends in the preparation and mandatory submission of combined financial statements and approaches to inclusion in the perimeter of the reporting group. Practical problems that arise in the preparation of combined financial statements are presented, including the choice of the conceptual basis for reporting, collection and structuring of accounting information, valuation of reporting items in the presence of foreign companies in the group perimeter, etc. The study has shown that there are no recommendations on the preparation of combined financial statements in the national accounting regulations.