The preparation and presentation of consolidated financial statements is a
large and complex area of study that forms an integral part of the financial
accounting/corporate reporting syllabi of the accountancy bodies and most
accounting, commerce and business studies degree programmes.
Written and designed to make consolidation more
approachable for the student, this book leads the reader, using a step-by-step
approach, through the consolidation of financial statements, supported by
numerous examples, comprehensive questions and fully worked solutions including
those from past professional accountancy examination papers.
This 3rd edition is updated to incorporate changes to
relevant accounting standards since the 2nd edition (2013) and is up to date to
31 December 2016. This new edition also includes new chapters on:
- business combinations achieved in stages; and
- vertical/complex group holdings.
Key features of this textbook:
- Advice on how to approach examination questions on consolidation.
- Worked examples and solutions throughout the text.
- A large and comprehensive question bank, requiring the preparation and presentation of a consolidated:
- Statement of Financial Position;
- Statement of Profit or Loss and Other Comprehensive Income;
- Statement of Changes in Equity involving a parent, a subsidiary and a joint venture.
- Solutions to all of the questions and a comprehensive set of journal entries dealing with the consolidation procedures and all the ‘complications’.
- Workings for questions and worked examples requiring the preparation of a consolidated statement of financial position are presented using both the more traditional T-account method as well as the columnar method now adopted by many lecturers and students.
For further information, contact publishing@charteredaccountants.ie or telephone on (+353) 01 637 7204
The Authors
Paul Mahony is a
Fellow of Chartered Accountants Ireland, a retired Fellow of the Institute of
Certified Public Accountants in Ireland and holds a Masters Degree in Business
Studies (Accounting). Paul joined Cork Institute of Technology in 1980 and was
appointed a senior lecturer and head of the Department of Continuing Education
in 1995. Before retiring, he had over 30 years’ experience lecturing on
financial accounting to final level of four accountancy bodies as well as on
undergraduate and post-graduate degree courses. He was an examiner at
professional level for over 10 years and has written several technical
publications on accounting standards.
Niall MacLochlainn B Comm is also a Fellow of Chartered
Accountants Ireland. Now retired, Niall worked as a financial manager/company
secretary in subsidiaries of multinational companies for over 35 years and
lectured part-time in financial and corporate reporting for professional
accounting students, as well as for undergraduates and post-graduates at third
level. He has also co-authored/authored a number of editions of Accounting
Standards: A Quick Reference (with Brian O’Kane) and Auditing
Standards: A Quick Reference (with Aidan Dunlea). Niall is actively
involved with the Chartered Accountants Cork Society.
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