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Unit 16 - Accounting for Subsidiaries (Consolidation process (LO2, 3)…
Unit 16 - Accounting for Subsidiaries
What is consolidation (LO1)
Definition (CSG 16-3)
Key principles (CSG 16-3)
Consolidation process (LO2, 3)
Step 3 - Ensure consistent accounting policies, reporting date and presentation currency (CSG 16-7)
Step 4 - Prepare consolidation eliminations and adjustments (CSG 16-8)
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Step 2 - Determine if consolidated FS need to be presented (CSG 16-6)
Step 5 - Prepare consolidated financial statements (CSG 16-25)
Step 1 - Determine whether control exists (CSG 16-6)
Consolidation adjustments (LO2, 3)
Step 4(b) - Prepare business combination valuation reserve (BCVR) entries (CSG 16-10)
Goodwill summary - CSG 16-12
Step 4(c) - Eliminate investment asset (CSG 16-14)
Step 4(a) - Perform an acquisition analysis (CSG 16-9)
Step 4(d) - Eliminate intragroup transactions and balances (CSG 16-17)
Receivables/payables and interest (CSG 16-17)
Sales/purchases (CSG 16-18)
Unrealised profit/loss on inventory transfer (CSG 16-19)
Unrealised profit/loss on PPE transfer (CSG 16-20)
Dividends (CSG 16-21)
Step 4(e) - Prepare NCI allocations (CSG 16-22)
Accounting for movements in investments (LO4)
Acquisition of additional investment - step acquisition (CSG 16-28)
New share issues by subsidiary (CSG 16-28)
Disclosures (CSG 16-29)