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Overview

This self-study course addresses requirements of IFRS 10, Consolidated Financial Statements, including the following:

• Defining control
• Exemptions from the consolidation requirements
• Investment entity accounting
• Consolidation procedures
• Consolidated statement of financial position
• Consolidated statement of profit or loss and other comprehensive income
• Goodwill

Also, this course addresses requirements of IAS 27, Separate Financial Statements, including the following:

• Recognition requirements, including classifying investments by type in the investor's separate financial statements. A type of investment may be a subsidiary, an associate, a joint arrangement or a financial asset.
• Measurement requirements
• Disclosure requirements

This course includes interactive learning elements, video content, and real-life application through case studies.

Learning Objectives

• Identify which entities must prepare consolidated financial statements and what exemptions are available.
• Recall how the principle of control, as defined in IFRS 10, is applied to determine whether an investor (parent) controls another entity (investee).
• Indicate how the accounting requirements are applied to prepare consolidated financial statements as defined in IFRS 10.
• Recall how investments are recognized in the separate financial statements of the investor.

(This is a re-launch programme. No CPD hours will be granted if a member has previously enrolled for CMAI20030427 IFRS: Consolidated Financial Statements (IFRS 10) and Separate Financial Statements (IAS 27))