Financial Statements Consolidation I (IAS / US GAAP)

Version for download/printing
Financial Statement Consolidation I (IAS / US GAAP)
(pdf, 346 Kb, 2 pages)

Duration
2 days / 16 academic hours / 16 CPD units / 14 СPE credits

Required level of preparation
Knowledge of IFRS / US GAAP.
Prior to this training we recommend the participants first attend our training “IFRS / US GAAP: Practical Application I.”

Who should attend

Financial analysts of companies that are part of international financial groups (holdings)
Chief accountants.

Objectives

To consider forms of company mergers, ways of accounting for investments, and conditions necessary for financial statement consolidation
To master basic operations for consolidation, and conduct the whole consolidation of financial statements
To consider the specifics of accounting for minority interests and goodwill in consolidation
To learn the procedure of consolidation by example.

Course specifics
All the latest published changes in IFRS US GAAP are included in the training materials.

Training methodology

Training is conducted in an interactive form and includes a number of case studies.
Training participants are provided with specially designed training materials in Russian.

Training outline

Day 1

Regulating documents
Introduction. Company mergers. Major definitions. Definition of consolidation perimeter
Control. Major signs of control. The actual control
Special-purpose companies. Comparison of SIC 12 and FASB Interpretation 46 (Fin 46)
Requirements for preparing consolidated financial statements. Incongruity of a financial period end date. Single accounting policy. Start and end dates of the consolidation
Share of not supervising shareholders
Goodwill
Basic consolidation technique
Date of acquisition consolidation
Consolidation after acquisition. Exemptions of operations inside the group

Day 2

Business merger value. Equity instruments issued by the acquiring party. Deferred payment. Contingent fee. Deal cost return
Acquired assets and liabilities recognition and evaluation. Identifiable assets and liabilities. Contingent liabilities
Exceptions from acquired assets and liabilities recognition and evaluation principles
Evaluation period. Further value corrections of identifying assets and liabilities
Information disclosure requirements.


Certificates Certificates of the Ernst & Young Academy of Business.	Recommended training scheme Conceptual Framework and Presentation of Financial Statements (IFRS / US GAAP) Accounting for Non-current Assets (IFRS / US GAAP) Accounting Estimates in Preparation of Financial Statements (IFRS / US GAAP) Deferred Taxation (IAS / US GAAP) Financial Statements Consolidation I (IAS / US GAAP) Financial Statements Consolidation II (IAS / US GAAP) Consolidated Cash Flow Statement (IAS / IFRS / US GAAP) Corporate Reporting: foreign currency transactions and foreign operation.
Place and time Open trainings are conducted at Ernst & Young Academy of Business from 9:30 to 16:30.
In-company training Preliminary analysis of clients’ training needs, identification of aims and goals Training adaptation industry Flexible approach to training location and schedules Report on the training results.