개선된 연결회계시스템에 의한 연결재무제표 작성 사례 개발

Many years have passed since the consolidated financial statements began to be announced as main financial statements in Korea, but school education has not produced enough people to able to prepare consolidated financial statements. Accounting practices also are having difficulty to build up and maintain consolidation accounting system. The main reason for these problems is the difficulty of preparing consolidated financial statements. The traditional method and procedures that have known for preparing consolidated financial statements are very complicated and difficult. As a way to address these issues, Kang(2011) has proposed the improved consolidation accounting cycles and developed an easier method for preparing consolidated financial statements. This study complements the improved consolidated accounting cycles and develops cases to clarify how to prepare the consolidated financial statements using the improved method. Improved consolidated accounting cycles do not have procedures for adding individual financial statements, and calculate the balance of account using consolidation journal entries and consolidation general ledger. Because it also has procedures for closing temporary accounts and carrying permanent accounts forward, it does not enter every year again to journal consolidation transactions that have entered to journal in the past fiscal year. Such a method is similar to the individual accounting system. In particular, the method of preparing the consolidated financial statements, that has developed in this study and explained using the case, has features that are easy to understand. And the procedures of this improved method are simpler than traditional method that adds up the individual financial statements and makes adjustment for consolidation. The consolidated accounting cycles and the method preparing consolidated financial statements, that has developed and has explained using cases in this study, is expected to be utilized for the advanced accounting education in schools and for the improvement of consolidation accounting systems in practice.