Consolidated Financial Statements: preparing them in an international context

Format

This course will be delivered over two half-days via Zoom on 26 October 2022 and 27 October 2022 from 2pm to 5pmThe Zoom link will be emailed to participants the day before the course is due to take place.

This course will follow the Virtual Classroom format and will encompass two, three hour session. The online interactive live sessions will utilise the functionality of our online learning platform and will be an engaging collaborative manner of learning. These session will not be recorded therefore attendnace is required.

Who should attend

• Accountants and controllers working in Irish companies which prepare IFRS consolidated statements of a group or of a sub-group.
• Accountants and controllers working in Irish companies which have foreign parent companies.
• Analysts or fund managers who are interested in consolidated annual reports.
• Auditors of the above companies.

Course overview

• The scope of the group under IFRS and Irish law. Which entities are included and which excluded?
• Identifying joint ventures and associates.
• Accounting for business combinations; the calculation and subsequent treatment of goodwill.
• Main features of the preparation of consolidated statements under IFRS.
• Treatment of non-controlling interests.
• Accounting for joint ventures and associates in consolidated statements.
• Accounting for sales of group companies.
• Illustrations with real annual reports.
• Summary of important differences between IFRS, US GAAP and Irish GAAP on the above issues

Key Learning Outcomes

• Gain an in-depth understanding of the scope of the group under IFRS, including the nature of subsidiaries, joint ventures and associates
• Understand accounting for business combinations and the resulting goodwill
• Have detailed practical knowledge of the preparation of consolidated financial statements under IFRS
• Appreciate the main differences between IFRS requirements on consolidation and those of Irish GAAP and US GAAP
• Better understand instructions coming from group controllers in the US, UK or continental Europe

Speaker

Christopher Nobes PhD, CA, FCCA - Chris is Professor of Accounting at Royal Holloway (University of London). He has held teaching posts in New York and San Diego. He is the author of Financial Reporting in the US, published by the Financial Times. He was one of the two UK representatives on the Board of the International Accounting Standards Committee from 1993 to 2001. He was the 'Outstanding International Accounting Educator' of the American Accounting Association in 2003.

Contact us

If you have any questions regarding this or any other CPD course or requirements, please feel free to contact the team here or call us at (+353) 01 523 3930