(1) Consolidated financial statements are to combine the annual financial statements of the parent enterprise with the annual financial statements of the subsidiary enterprises. The subsidiary enterprises’ assets, debt obligations, accrued and deferred items, as well as special items, insofar as they are capable of being recognised on the balance sheet pursuant to the laws governing the parent enterprise, will take the stead of the shares in the consolidated subsidiary enterprises belonging to the parent enterprise unless the nature inherent to the consolidated financial statements calls for a deviation or unless the following provisions stipulate otherwise.
(2) The assets, debt obligations, accrued and deferred items, as well as the earnings and expenditures of the enterprises included in the consolidated financial statements, are to be reported fully and completely in the consolidated financial statements, independently of whether they have been taken into account in the annual financial statements of these enterprises, unless the laws governing the parent enterprise stipulate that they are prohibited from inclusion on the balance sheet or that including such items on the balance sheet is optional. Reporting options permissible pursuant to the laws governing the parent enterprise may be elected in the consolidated financial statements, independently of whether they have been elected in the annual financial statements of the enterprises included in the consolidated financial statements. Values recognised as a consequence of the provisions governing credit institutions or insurance enterprises having been applied due to the specific nature of the line of business may be upheld; the notes to the consolidated financial statements are to indicate that this exemption has been applied.