Financial Consolidation

Financial Consolidation

OBJECTIVES

•  Discuss and apply the consolidation process based on Australian Accounting Standards.
• Analyse and prepare statements for the parent’s acquisition of a subsidiary.
•  Identify and calculate minority interest share of equity.
• Outline and explain the issues associated with accounting for associates and joint ventures.
• Discuss and account for translation of foreign currency denominated financial statements.
• Discuss and apply the use of equity accounting.

COURSE OUTLINE

• Introduction
• Accounting for Business Combinations
• Accounting for business combinations and introduction to consolidation
• Consolidation processes
• Consolidation processes and equity accounting
• Financial Instruments I: Primary financial instruments
• Foreign Currency Translation: Translation of foreign currency transactions and balances
• Hedge accounting and accounting for derivatives