FRS 102 - A Comprehensive Refresher - Module 5 - Group Accounting Issues

Overview

This half day module is the fifth in a five module series delivered over two and a half days, providing a comprehensive refresher on the requirements of FRS 102 which is now firmly established as the default accounting regime for all unlisted entities in the UK. The particular focus of this module is on accounting for groups of companies, associates, and joint ventures.

It will be useful to preparers, reviewers and auditors of financial statement who are coming fresh to FRS 102, are returning to it after a break, or simply require to refresh their knowledge in specific areas.

This module can be undertaken separately, or in conjunction with and or all of the other modules in the series.

All modules can be booked together on the following page FRS 102 - A Comprehensive Refresher Programme

Please find the other four modules below:

• FRS 102 - A Comprehensive Refresher - Module 1 - Principles and Presentation
• FRS 102 - A Comprehensive Refresher - Module 2 - Asset And Liabilities
  
• FRS 102 - A Comprehensive Refresher - Module 3 - The Income Statement
  
• FRS 102 - A Comprehensive Refresher - Module 4 - Financial Instruments
  

Learning objectives

The objective of the training is to:

• Ensure delegates understand the principles of FRS 102 in the areas specified;
• Enable delegates to prepare financial information in the specified areas in compliance with FRS 102; and
• Enable delegates to better understand financial information prepared under FRS 102

Course coverage

The topics to be covered in this module will include:

• The requirement for group accounts
• Identification:
  • Subsidiaries
  • Associates
  • Joint ventures
• Consolidation principles
• Issues on a business combination
  • Accounting policies
  • Accounting date
  • Valuation of consideration
  • The fair value exercise
  • The measurement period
• Accounting for associates and joint ventures
• Accounting for foreign subsidiaries
• Group reconstructions and merger accounting

Programme methodology

The module will be based on a Powerpoint presentation, but will be heavily illustrated by short case examples and by consideration of live financial statements prepared in accordance with FRS 102.