IFRS 3: A Business or an Asset?
Last update: August 2023 Did you note that with the globalizing world, the number of large entities decreases and their size increases? Just as an example – 20 years ago, there were about 50 large media companies in the USA, controlling US entertainment industry. I…
Example: IFRS 10 Disposal of Subsidiary
Some time ago I published an article with an example of very simple method of consolidating a parent and a subsidiary. This article still applies and you can learn the basic steps and methodology of consolidation with a nice video in it. Many of my…
How to Consolidate Special Purpose Entity
Last update: 2023 I lost my first serious job in Arthur Andersen in 2001. I was devastated, because I really loved that job. Yes, it was full of hard work and long overtimes, but it was the best accounting and auditing school ever. How did…
How The Groups Change
Group accounts are a very popular topic and yes, I can understand it as it’s a main topic for many accounting exams. I have written a few articles about it, including: Intro to group accounts and consolidation; Example: How to consolidate; and a few summaries…
Example: How to Consolidate
Step-by-step solved example of consolidation under IFRS 10 with video and excel. You will learn exactly WHAT you are doing and WHY you are doing this. If you apply this systematic method, your balance sheet will always BALANCE with no errors.
IFRS 10 Consolidated Financial Statements
In my previous article I introduced the world of group accounts and consolidation to you. You learned that there about 6 IFRS dealing with this topic. Here, I’d like to summarize the first “consolidation” standard dealing with the consolidated financial statements: IFRS 10. What is…
Intro To Consolidation And Group Accounts – Which Method For Your Investment?
Update 2023: Please scroll down to download the infographics for your future reference. Buying a foreign company or just some shares, building up an entirely new business or starting mutual venture with somebody else are some basic ways of spreading the business activities. Consolidation goes…
Top 5 IFRS 2014 and 2013 Changes
The year 2013 started off with some really significant IFRS amendments that you need to take into account when preparing your IFRS financial statements as at 31 December 2013. Although these changes should be applied in the year 2013 for the first time, you also…
