In present times groups of companies have a great economic importance.  Several dozens of them secure a considerable amount of the business sectors of the main industrialized European countries and elsewhere in the world. The companies called „multinational” have branches in various parts of the world, and their economic and financial strength may sometimes exceed that of a government.   The consolidation of financial reports is a consequence (an effect) of the process of concentration and centralization of capital, the incorporation of subsidiaries, branches within concerns and groups of companies within the limits of some national frontiers of several governments on an international scale.The establishment of translational companies (TNC) which carry out their business on the territory of various countries, the establishment of companies containing foreign capital, the utilization of various forms of commercial, industrial and financial ties between companies have imposed for the disclosure of information about their business in the form of consolidated financial reports.