An application in consolidation and holding operations for financial reporting standards

The accounting should be able to perform users' functions under favour of information provided by the capital market and accounting system. It is also necessary to present reliable information about the business activities. Accordingly accounting should be prepared according to certain standards, moreover, it should deliver financial statements and reports in specific forms to assignors. A consolidated financial statement is the mergence of financial statements of more than one enterprise. Partnerships which is outside the group are not included in the consolidation of the financial statements and these are valued in different ways. In other words, the partnerships outside the group that are not included in the consolidation self-regulate the personal financial statements. The consolidation in Turkey has not been a well-accepted technics, but has been tried to be made compulsory in independent subject companies. Through the technics of the consolidation, the aim is to provide more regular and understandable information flow with gathering under a single roof the parent companies and their subsidiaries.