Fundamental Group Accounts
There are numerous considerations that must be taken into account to consolidate the financial statements for a group correctly, from adjusting for dividends received from a subsidiary to accounting for partial acquisitions to dealing with intra-group trading. For the unprepared, it can be a daunting process!
So, whether you’re involved in producing the financial reports for a two-company group or a large conglomerate with tens or even hundreds of subsidiaries, it’s vital that you understand the intricacies and nuances of group accounting.
This course is designed to introduce you to the fundamental concepts. We’ll take you step-by-step through how to produce a consolidated statement of financial position and income statement, as well as how to deal with each of the key challenges typically faced when creating these statements. Additionally, we’ll introduce you to the key International Financial Reporting Standards relevant to group accounting so that you can ensure that your client or company remains compliant with these regulations.
Provides 16 hours of CPD
- How to identify a parent-subsidiary relationship to determine whether a group exists and what group accounting rules need to be applied
- A step-by-step walkthrough of the consolidation process so that you understand how to consolidate accounts from first principles
- When and how to apply the relevant International Financial Reporting Standards, IAS 1, IFRS 3, IFRS 10, IFRS 11, IAS 27 and IAS 28, so that the company remains compliant with these regulations
- The process for consolidating the accounts when a new subsidiary is acquired, including how to account for pre and post-acquisition reserves, goodwill and the fair value of net assets
- How to produce a consolidated statement of financial position to present the assets and liabilities of the parent and its subsidiaries
- How to create a consolidated income statement to accurately show the profit generated by the net assets of the parent company and its subsidiaries
- The key complexities that may arise when producing the financial statements, including mid-year acquisitions, dividends, loans, non-controlling interests and intra-group trading, and how to deal with these in the statements properly
- The financial reporting requirements for the parent company’s separate financial statementsto comply with IAS 27
Applying what you learn:
In this course, we also offer you a range of practice questions that you can use to reinforce your knowledge. By the end of this course, you will have a solid foundation in the fundamentals of group accounting!
What’s included in the course?
- Thoroughly explores the concepts, theories and models for this topic
- The content is professionally explained by our expert tutors alongside a visual presentation
- Come with downloadable audio files so you can listen to the content offline and on the go
- Full coverage of the video content using engaging and easy-to-follow language
- A range of examples to show you how these concepts might apply to real-life situations, e.g. in finance
- A practical exercise for each module based on the subject’s application in a finance team
- A series of questions designed to test your understanding of what you’ve learnt on the course
- Designed to get you to apply what you’ve learned to scenarios and commit the theory to memory
- The visual presentation from the video can be accessed for note-taking and for browsing alongside the video or audio download
- Can be viewed as still slides or in an interactive format to move around the screen
Purchasing the course
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Astranti CPD Course:
Fundamental Group Accounts
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