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Course : Practical aspects of consolidation of the accounts

Practical aspects of consolidation of the accounts




The consolidated accounts are the vehicle for groups to communicate their financial information and the tool by which the contribution of each entity towards the performance of the whole group can be measured. You will gain an understanding of the purpose of the consolidation in order to put in place a methodology for the production and presentation of the accounts.


INTER
IN-HOUSE
CUSTOM

Practical course in person or remote class

Ref. CCO
  2d - 14h00
Price : Contact us

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The consolidated accounts are the vehicle for groups to communicate their financial information and the tool by which the contribution of each entity towards the performance of the whole group can be measured. You will gain an understanding of the purpose of the consolidation in order to put in place a methodology for the production and presentation of the accounts.



Intended audience
Anyone having responsibility for preparation of the consolidated accounts: accounting or financial managers with responsibility for preparation of the consolidated accounts.

Prerequisites
Knowledge of basic accounting mechanisms.

Course schedule

1
Understanding the regulatory framework

  • Requirement to prepare consolidated accounts.
  • Texts in force, French standards and IFRS.
  • Differences between French and international standards.
  • Treatment of closure dates.

2
Determining the scope of consolidation

  • Different types of control: exclusive, joint, significant influence.
  • Exclusions from scope.
  • Calculation of the percentages of voting rights.
  • Companies included and excluded: what rules apply?
Hands-on work
Hands-on work Define the scope of consolidation. Establish the organizational structure of the group.

3
Using the methods of consolidation

  • Calculation of percentage of interests.
  • Overall proportional integration of the equity method of accounting.
Hands-on work
Hands-on work Calculation of percentages of control and interest.

4
Understanding the main restatements

  • Obligatory restatements.
  • Standardization of the accounts.
  • Elimination of entries of a fiscal nature.
  • Activation of finance lease contracts.
  • Pension commitments.
  • Translation variations.
  • Long-term contracts.
  • Eliminating the impact of intra-group transactions.
Hands-on work
Hands-on work Propose elimination entries to record in the Consolidation Journal.

5
Determining deferred taxes

  • Identifying the sources of deferred taxation.
  • Tax returns.
  • Consolidation entries.
  • Losses carried forward.
  • Determine the deferred taxation.
Hands-on work
Hands-on work Based on the elements to be included and deducted, record all the consequences of tax-deferral until 31/12/N.

6
Processing disposal transactions

  • Concept of intragroup eliminations.
  • Calculation of goodwill and elimination of consolidated investments.
Hands-on work
Hands-on work Calculate the valuation difference, the goodwill, and record the entries in the Consolidation Journal.

7
Presenting the consolidated accounts

  • Concepts of minority interests and "Goodwill".
  • Distribution of equity.
  • Contents of the consolidated accounts.
  • Consolidation return.
Hands-on work
Hands-on work