Evaluation Consolidated under Financial Group Banca Transilvania

• Author: Neculina Chebac, Mihaela-Cristina Onica
• Position: Danubius University, Faculty of Economics - 'Dunarea de Jos' University Galati, Faculty of Economics
• Pages: 576-580

Evaluation consolidated under

Financial Group Banca Transilvania

Chebac Neculina1, Onica Mihaela-Cristina2

1“Danubius” University, Faculty of Economics, neculinachebac@yahoo.com,

“Dunarea de Jos” University Galati, Faculty of Economics, cristina_onica@yahoo.com

Abstract: One of the components of prudence measures adopted by the competent

authorities with the regulation and supervision of financial markets at national and

European level is mandatory consolidation of accounts. Romania as member of the

European Union it harmonized national regulations with the European consolidation of

accounts of companies. For the banks have been issued by th e appropriate rules by the

regulators authority, concerned by National Bank of Romania. In accordance with

national regulation s, companies are required to prepare annual consolidated financial

statements may make such situations according to the regulations or accounting in

accordance with Directive VII of the European Economic Community, under

International Financial Reporting Standards.

Keywords: consolidated financial, balance sheet, financial decision, financial balance

indicators, treasury fluxes

Develop VIIth Directive of the European Economic Community was held for the consolidated

accounts and was a necessity for many companies that are an integral part of national or

multinational groups and must present an overall financial internal and external users. Thus, in

evaluating the financial reporting, where fair value should be recorded in accounting, business

evaluation results will be presented as a range of values. When fair values are estimated as values

of the market, the users (auditors, business executives) expects that estimated fair values to

represent more accurately the market value of assets on evaluation.

To the assessor may be required, additional information on the trend of asset prices in balance,

the market liquidity degree of these assets or describing the most important factors of influence.

Consolidated accounts are required to be made by a company (called parent company) where:

- holds a majority of voting rights in another company;

- has the right to appoint or remove a majority of members of the management of another

company ,being in the same time a shareholder or member thereof;

- exercise significant influence over another company which is not associated or shareholder,

by virtue of agreements, whether in contract or in the incorporation of that company.

Consolidated financial statements should be prepared using uniform accounting policies for like

transactions and similar events. If you can not use uniform accounting policies in preparing

consolidated accounts, this must be presented in the notes, together with the weights of items for

which they applied different accounting policies. In many cases, if a member of the group uses

576