Accounting Consolidation

Base Knowledge

Previously knowledge acquired within the financial accounting and corporate accounting courses is essential.

Teaching Methodologies

The syllabus will be developed, as much as possible, using active methods, which involve the participation of students and the promotion of a theoretical-practical perspective of the topics and an approach based on know how to do. For this, the explanation of the theoretical and conceptual aspects of the subjects will be combined with the analysis of real cases, the resolution of pedagogical exercises and other research activities (individually or in groups), making a constant appeal to the students’ appreciation, in order to encourage reasoning and vision critical.

Learning Results

This course has the following objectives:
1. Study business combinations and specific needs of groups.
2.Distinguish the financial investments (corresponding to equity participation) and the applicable methods, in individual and consolidated accounts.
3. Study the philosophy, concepts and methodologies applicable to the preparation of consolidated financial information, based on Portuguese accounting standards.

Students should acquire the following skills:

•Knowing what motivates business concentrations and their typology;

•Be able to identify the different links between companies and a group of companies, and treatment accounting applicable in each case;

•Distinguish between individual and consolidated financial information;

• Understand the methodology to be followed in the process of consolidating financial statements and applying the proper procedures;

•Knowing how to prepare the consolidated balance sheet and income statement and understand their meaning;

•Knowing how to distinguish between consolidation for accounting and tax purposes.


Chapter 1 – Introduction of mergers and consolidation

1.1 Business combinations and financial information.

1.2 The groups of companies.

1.3 The consolidation of financial statements – concepts, objectives, advantages and limitations, consolidation theories.

1.4 Consolidatable set and consolidation perimeter – essential concepts.

Chapter 2 – Combinations of business activities

2.1. Concept and identification of a combination of business activities. 

2.2 Rules for application of the purchase method. 

Chapter 3 – Financial investments and applicable methods

3.1 Types of financial investments.

3.2 Methods of accounting for financial investments.

3.3 Consolidation methods.

Chapter 4 – Process of consolidation of financial statements

4.1 Consolidation perimeter – organization chart, mandatory, waivers and exclusions.

4.2 Operations prior to consolidation – temporal, value and monetary homogenization.

4.3 Consolidation procedures – aggregation and eliminations.

4.4 Consolidation of  Financial Statements.

4.5 Consolidation documents.

Chapter 5 – Particular Cases in the application of the Integral Consolidation Method

5.1 Variation in the percentage of participation and control.

5.2 Reciprocal participations.

5.3 The indirect domain – consolidation techniques.

Chapter 6 – Distinction between accounting and tax consolidation

– Concept of group for the purpose of applying the Special Taxation Regime for Groups of Companies and its differentiation from the group for accounting purposes

Curricular Unit Teachers




1. Fundamental bibliography 

Alves, S. & Carmo, C. (2021). Contabilidade das Sociedades e Consolidação de Contas, 2ª edição. Coimbra: Editora Almedina. ISBN: 9789724094786.

Código das Sociedades Comerciais, edição atualizada.

Código do IRC, edição atualizada.

Rodrigues, João (2015). Participações financeiras e consolidação de contas. Porto: Porto Editora. ISBN: 978-972-0-32638-6.

Rodrigues, João (2021). Sistema de Normalização Contabilística explicado, 8ª edição. Porto: Porto Editora. ISBN: 978-972-0-00324-9. (capítulos sobre investimentos financeiros e consolidação de contas)

Sistema de Normalização Contabilística (SNC):

˗      Decreto-Lei n.º 158/2009, de 13 de julho, alterado e republicado pelo Decreto-Lei n.º 98/2015, de 2 de junho de 2015 (D.R. 1ª série, n.º 106) – Sistema de Normalização Contabilística.

˗      Aviso n.º 8256/2015, de 29 de julho de 2015 (D.R. 2.ª série, n.º 146) – publica as Normas Contabilísticas e de Relato Financeiro do SNC (atualizadas). Relevam as seguintes normas:

–        NCRF 13 – Interesses em empreendimentos conjuntos e investimentos em associadas.

–        NCRF 14 — Concentrações de atividades empresariais.

–        NCRF 15 – Investimentos em subsidiárias e consolidação.

–        NCRF 23 – Os efeitos de alterações em taxas de câmbio.

˗      Portaria n.º 220/2015, de 24 de julho (D.R. 1ª Série, n.º 143) – aprova os modelos das demonstrações financeiras do SNC.

˗      Portaria n.º 218/2015, de 23 de julho (D.R. 1ª Série, n.º 142) – aprova o Código de Contas do SNC.


Material teórico e prático de apoio às aulas fornecido pela docente.


2. Additional bibliography 

Lopes, C.R. (2022). Consolidação de Contas – Teoria e Casos Práticos, 4ª edição. Lisboa: Edições Sílabo. ISBN: 9789895612680.

Lopes, C.R. (2022). Casos práticos de consolidação de contas, 2ª edição. Lisboa: Edições Sílabo. ISBN: 9789895612017.

Macedo, Ana; Azevedo, Graça; Oliveira, Jonas (2013). Consolidação de contas. Lisboa: Escolar Editora. ISBN: 978-972-592-404-4.