Group Accounting - Fundamentals

Overview

This one-day course will refresh your knowledge of group accounting principles under both FRS 102 and IFRS Standards, highlighting differences where they exist. You’ll also gain a practical spreadsheet based methodology for the preparation of consolidated financial statements in groups with a simple structure.

For each element of the course, the underlying principles are considered and the practical spreadsheet approach is illustrated using case studies.

Who is this for?

This course is for anyone who requires a refresher in practical group accounting techniques, or whose group accounting knowledge is purely exam based. It will be particularly useful to professionals moving into a group accounting role.

What will you learn?

By the end of this course, you’ll have a thorough understanding of the fundamentals of group accounting. Detailed coverage will include:

• The requirements for, and aims of, consolidated accounts
• Identification of subsidiaries
• Exclusions and exemptions
• Fundamental principles of consolidation
• The Consolidated Statement of Financial Position
  • The spreadsheet-based approach
  • Pre and post-acquisition reserves
  • Goodwill
  • Non-controlling interests
  • Purchase accounting adjustments (the fair value exercise)
  • Elimination of intra-group items

• The Consolidated Statement of Comprehensive Income
  • The basic spreadsheet approach
  • Intra-group items
  • Mid-year acquisitions
• Conclusion
  • The unified spreadsheet approach
  • Differences between FRS 102 and IFRS Standards

How will this help your career?

The spreadsheet based consolidation methodology and knowledge you’ll gain from this course will allow you move into an accounting role in a group with a simple structure.

Other related courses

Group Accounting – Advanced: Consider this companion course on complex group structures, foreign subsidiaries, group restructurings, associates and joint ventures.