Preparing Consolidated Financial Statements

No consolidation knowledge required. A solid accounting knowledge is a must.

At the end of the training, the participants will be able to:

• describe what consolidation is and when it has to be performed
• explain the term "control" and identify whether it exists or not in various business combinations
• prepare a consolidated balance sheet and profit or loss account for a basic group of companies with goodwill, fair value adjustments, non-controlling interest, and other consolidation adjustments

• Introduction to consolidated accounts (subsidiaries, associates, investments)
• Consolidation – the procedure
• Consolidated statement of financial position
• Eliminating the investment
  • Eliminating intercompany balances
  • Goodwill
  • Pre-acquisition profits
  • Fair value adjustments
  • Non-controlling interest
  • Intra-group trading
  • Acquisitions part way through the year
• Consolidated statement of profit or loss
  • Non-controlling interest
  • Intra-group trading
  • Acquisitions part way through the year
• Foreign operations

At the end of the training, the participants will receive a certificate of participation delivered by the House of Training.