
This course explains the consolidation process step-by-step, including a subsidiary's acquisition transaction, recognition of goodwill or the bargain purchase gain, the technical aspects of consolidating the financial position and profit & loss statement including elimination conditions and the recognition of Non-controlling Interest (NCI).
This course depends on a case study that simplifies the theory behind the following standards: - ASC 805 Business Combinations, ASC 810 Consolidation, IFRS 3 Business Combination, and IFRS 10 Consolidated Financial Statements.
Course Key Concepts: ASC 805, ASC 810, IFRS 3, IFRS 10, Business Combinations, Consolidation, Consolidated Financial Statements, Goodwill, elimination, non-controlling interest, NCI
Learning Objectives
- Identify the subsidiary's acquisition transaction, and the subsidiary's net assets fair value.
- Recognize the purchase consideration, goodwill, and the gain from a bargain purchase.
- Explore the technical accepts of consolidating the financial statements of a subsidiary entity, including the elimination conditions, intra-entity transactions, and non-controlling interest recognition.
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Prerequisites
No advanced preparation or prerequisites are required for this course.