- Regulatory, financial, risk and ethics frameworks - Know the regulatory, financial, risk and ethics frameworks (Sarbanes-Oxley, AMF and SEC regulations, etc.).
- 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
- Tax consolidation - Deferred tax, tax proof, tax consolidation
- Intra-co and interco, transfer prices - Understanding Intra-co and interco, as well as transfer prices
- IFRS - International Financial Reporting Standards (IFRS)
- Consolidation scope - Consolidation scope - First-time consolidation - Goodwill - Minority interests
Fundamentals
Target audience
- Accountants
- Consolideurs
- Contrôleurs de gestion
- Experts comptables, Commissaires aux comptes
- Responsables financiers, consolidation et comptables
3 day
Consolidation training: master IFRS fundamentals and tools
Prerequisites
No prior knowledge is required
Objectives
◗ Perform the main consolidation tasks.
◗ Prepare consolidated financial statements using the three consolidation methods.
◗ Ensure a smooth transition from local financial statements to consolidated financial statements prepared in accordance with IFRS.
◗ Apply the requirements for the presentation of consolidated financial statements and accompanying notes.
Training program
◗ General principles
– IFRS and local standards: Which standards should be applied, and in what situations?
– IFRS standards related to consolidation (IFRS 10, 11, 12, IAS 28)
– The 3 consolidation methods: equity method, proportional consolidation, and line-by-line consolidation
– Overview of the steps in the consolidation process
✔ UNDERSTAND | Brainstorming: What does “consolidation” mean?
✔ APPLY | Practical exercise: Converting from individual financial statements to consolidated financial statements using the 3 consolidation methods
◗ Complex points relating to the consolidation process
– Determining the scope: audit analysis, selection of the method
– Organizing the consolidation: tools, structure of the financial statements package, input of company-level or restated data, preparation of sub-consolidations
– Data collection and restatement: controls to be implemented, management of retained earnings, list of key restatements under IFRS
– Issues related to the conversion of companies’ financial statements in foreign currencies (difference between transaction conversion and consolidation conversion)
– Proportional allocation of financial statements
– Elimination of intercompany transactions: focus on the treatment of dividends, intercompany gains, and intercompany provisions
– Determination and recognition of deferred taxes: permanent differences vs. temporary differences
– Elimination of equity investments and allocation of equity
✔ UNDERSTAND | Diagram: Relationship between Level of Control and Consolidation Methods
✔ UNDERSTAND | Brainstorming: Why Must Financial Data Included in the Consolidation Be Restated?
✔ UNDERSTAND | Illustration: Reconciliation Table from Local Equity to Group Equity by Entity
✔ APPLY | Practical Case Studies on Each Step of the Consolidation Process
◗ Treatment of business combinations: purchase method
– Principles of IFRS 3
– Measurement and recognition
– Determination and monitoring of goodwill
– Treatment of negative goodwill
✔ APPLY | Case Study: Determination and Recognition of Goodwill
◗ Presentation of consolidated financial statements
– Presentation of consolidated financial statements: income statement, statement of comprehensive income, balance sheet, cash flow statement, statement of changes in equity, and notes to the financial statements
– Impacts of IFRS 18
✔ UNDERSTANDING | Review of Consolidated Group Financial Statements
✔ UNDERSTANDING | Brainstorming: What do “other comprehensive income” (OCI) items represent, and what do they include?
Why choose this course?
Consolidation is a specific accounting technique. This training course details each step of the consolidation process to enable you to prepare consolidated financial statements in accordance with IFRS. It also provides you with the tools to ensure the reliability of automated processes through a better understanding of consolidation principles.
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
2,750 EXCL. TAX
Testimonials
consolidation training
consolidation training
consolidation training
Jonathan C.
Company
Training