Application regarding consolidated financial statements in accordance with financial reporting standards for large and medium enterprises

Companies that want to grow by keeping up with economic development develop by adopting strategies such as operating in international areas, increasing their business diversity, merging with other companies or owning new companies in different business areas. Reasons such as new business combinations, joint ventures and control over the investee have increased the need for consolidated financial statements. Consolidated financial statements are financial statements that result from the combination of several entities and present the individual financial statements of the entities as if they belonged to a single entity by combining them under one roof. Consolidated financial statements should be prepared in accordance with the Standards. These standards are Turkish Financial Reporting Standards and BOBI Financial Reporting Standards. Which company prepare its consolidated financial statements according to which standard depends on the activity and size of the group company. The aim of the study is to create an understanding of the consolidated financial statements within the framework of Turkish Financial Reporting Standards and BOBI Financial Reporting Standards and to provide the reader with an understanding of how the consolidated financial statements are prepared with the application. To achieve these goals, the study consists of three parts. The first chapter explains the concept of consolidation and provides general information on consolidation. In the second part, the methods of the consolidated financial statements and the standards associated with the consolidated financial statements are explained with examples. In the third part, the verbal information explained in the first and second parts is explained using the application method. In practise, three companies with real business data were consolidated using the full consolidation method. At the end of the application, a complete set of consolidated financial statements of three companies was presented and suggestions on the consolidated financial statements were made. Keywords: Consolidated Financial Statements, Major Partnership, Subsidiary, BOBİ Financial Reporting Standards, Turkish Financial Reporting Standards