Consolidation of Basic Groups: The SFP Side

In this course, we learn what a group is and what consolidation entails in general. We look at IAS 27/IFRS 10 and IFRS 3 principles. IAS 27 used to be known as IAS 27 Consolidated and Separate Financial Statements. It was superseded by IAS 27 Separate financial statements on January 1, 2013. The old IAS 27 consolidation requirements are now included in IFRS 10 Consolidated financial statements. This course also covers IAS 28 Investments in associates and joint ventures and IFRS 3 Business combinations.

The course also covers fundamental consolidation issues related to the statement of financial position. The basic consolidated statement of profit or loss and other comprehensive income is considered in a separate course by the same tutor. First of all, however, we look at all the important definitions, which determine how to treat each particular type of investment in consolidated financial statements.

Course Key Concepts: Consolidation, Basic groups, Subsidiary and subsidiaries Associates Trade investment, Consolidated financial statements, Consolidated statement of financial position (CSFP).