Consolidated Financial Statements (3rd Edition)


Available: In stock
Summary

Designed to make consolidation more approachable for the student, this textbook by Paul Mahony & Niall MacLochlainn leads the reader step-by-step through the consolidation of financial statements, supported by numerous examples, comprehensive questions and fully worked solutions.

ISBN number:  
978-1-910374-77-1
Price: €30.00  
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Description

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.

Format: Paperback, 386 pages
Published: July 2017

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.