- Regulatory, financial, risk and ethics frameworks - Know the regulatory, financial, risk and ethics frameworks (Sarbanes-Oxley, AMF and SEC regulations, etc.).
- Consolidation - Know the principles and methods of consolidation (full consolidation - equity method). Analyze consolidated financial statements.
- IFRS consolidation - Accounting production: How to produce IFRS consolidated financial statements
- Financial statements and appendices - Balance sheet, income statement, cash flow statement, statement of changes in equity, ICOs, appendices
- Intra-co and interco, transfer prices - Understanding Intra-co and interco, as well as transfer prices
- Consolidation scope - Consolidation scope - First-time consolidation - Goodwill - Minority interests
Fundamentals
Target audience
- Internal auditors
- Bankers / Account managers
- Management controllers
- Financial directors and controllers
- Tax specialists
- Accounting managers
- Members of the financial communications department
- Members of the legal department
- Financial managers
- Treasurers
- Users of financial statements
1 day
Consolidation principles training
Prerequisites
No prior knowledge is required
Objectives
◗ Understand the purpose of consolidation and the steps involved in preparing consolidated financial statements.
◗ Identify the key information presented in each of the consolidated financial statements.
◗ Identify the main transactions that require consolidation adjustments.
◗ Interpret their impact on the consolidated financial statements.
Training program
◗ Consolidation objectives
– Why Consolidate? Economic Considerations, Tax and Regulatory Requirements
– What Is Consolidation?
– Applicable Standards (IFRS and ANC 2020-01)
✔ UNDERSTAND | Illustration: Consolidated Financial Statements
✔ ASSESS | Quiz: In your opinion… Why does a company prepare a set ofconsolidatedfinancial statements?
✔ ASSESS | Quiz: In your opinion… Why are the parent company’sseparatefinancial statements included in the consolidated report?
✔ APPLY | Case Study: Transitioning from Separate Financial Statements to Consolidated Financial Statements
◗ Consolidated financial statements
– Presentation of the balance sheet, income statement, and cash flow statement
– Analysis of other comprehensive income (OCI)
– Purpose and content of the notes to thefinancial statements
✔ PRACTICE | Workshop: What specific features do you identify in the excerpts from the consolidated financial statements?
◗ The consolidation process
– Organizing the reporting and consolidation process
– What is the purpose of the scope of consolidation, and how is it determined?
• The concept of control
• Consolidation methods
• Entities excluded from the scope of consolidation
– Why restate local financial statements?
• “Group” standards
• Conversion of entities’ financial statements denominated in foreign currencies
• Elimination of intra-group transactions
• Deferred taxes
– Companies excluded from the scope of consolidation
✔ UNDERSTAND | Summary table of consolidation methods and their impact on financial statements
✔ UNDERSTAND | Brainstorming: What are the main accounting adjustments to be applied to local financial statements under IFRS and ANC 2020-01?
✔ APPLY | Practical exercise: Converting from individual financial statements to consolidated financial statements using the three consolidation methods. What do you observe?
◗ Introduction to business combinations
– Accounting Treatment of Goodwill: Calculation and Monitoring
– Differences Between IFRS Standards and ANC Regulation 2020-01
✔ UNDERSTAND | Brainstorming: Why do intangible assets and goodwill pose a challenge in consolidation?
✔ APPLY | Case Study: Calculating goodwill according to IFRS and ANC Regulation 2020-01
✔ UNDERSTAND | Example: Recognizing an acquisition in a consolidated balance sheet
Why choose this course?
Consolidation is a special field, with its own language and techniques. This training course, aimed at the uninitiated, enables you to engage in dialogue with consolidators, by explaining the constraints and challenges of the consolidation process in a clear and comprehensible manner. It will help you understand the structure of the consolidated financial statements and put the information specific to consolidation into perspective.
Teaching and assessment methods
Before the training: Submit your expectations via your online portal 15 days before the training begins and complete a self-assessment of your skills.
Teaching Methods: A variety of methods to cater to different learning styles, encourage active participation, and reinforce learning through experimentation and practice.
Educational materials: presentation materials, reference materials (summary sheets, tables, etc.), and other resources available in your account.
During the training: a mix of theoretical concepts and examples drawn from real-life cases. Participants are given the opportunity to engage in role-playing exercises. Numerous practical exercises allow participants to demonstrate their mastery of the skills as the training progresses.
Monitoring and evaluation: attendance sheet and certificate of completion. Immediate and post-training evaluations conducted using the LearnEval platform.
Price
1 295 € EXCL. TAX
Testimonials
Consolidation principles training
Consolidation principles training
Consolidation principles training
Jonathan C.
Company
Training