Financial Statements Consolidation and Investment Accounting
Consolidated financial statements are an essential part of the accounting process for group companies. This key information provides perspective on the entire business, something that is often lost when looking only at figures for the parent or a single subsidiary
The use of consolidated financial statements is key today for any organisation operating within a group, no matter what stage the business is at. By opting to use consolidation software it’s possible to reduce the complexity of the process of preparing these statements and optimize the way that they are used as a result.
In Consolidated Financial Statements, the Financials of the parent company and its subsidiaries will be consolidated as if they are a single economic entity. Preparation of Consolidated Financial Statements involves highly technical and complicated procedures
Course Objectives
- Recognize the process of consolidating financial statements.
- Identify business combinations and their related transactions.
- Apply the acquisition method for business combinations.
- Account for goodwill and non-controlling interests.
- Identify different types of financial instruments and accounting methods for each.
- Account for transactions according to fair value method, equity method and amortized cost.
- Recognize differences and similarities between International Financial Reporting Standards (IFRS) and the US Generally Accepted Accounting Principles