IFRS: Consolidated Financial Statements (IFRS 10) and Separate Financial Statements (IAS 27)

Overview

This course is part of the IFRS Certificate Program - a comprehensive, integrated curriculum that will give you the foundational training, knowledge, and practical guidance in international accounting standards necessary in today's global business environment.

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.

Note: Individual courses purchased within the last year can be applied toward the purchase of the IFRS Certificate Program. Find out more.

Prerequisites

Familiarity with financial reporting and accounting principles under IFRS

Objectives

Learning Outcomes

• 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.