ΠΕΡΙΓΡΑΦΗ

The aim of this seminar is to provide participants with an in-depth understanding of the principles, methodologies, and practical applications of consolidation in accordance with International Financial Reporting Standards (IFRS). This comprehensive seminar is designed to equip attendees with the essential knowledge and skills required to prepare consolidated financial statements, ensuring full compliance with IFRS and significantly enhancing the quality and reliability of financial reporting. 

The seminar intends to cover all advanced aspects of consolidated financial statements, reviewing Piecemeal Acquisitions, Partial Disposals, Complex Groups and Foreign Operations.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the course, participants will be in position to:-

• Apply the control model under IFRS 10 and perform consolidation procedures for subsidiaries.

• Identify and account for business combinations in line with IFRS 3, including the acquisition method, forms of consideration, and fair value measurement of net assets.

• Recognize and measure goodwill, including impairment testing and subsequent treatment.

• Understand and apply consolidation adjustments in step acquisitions (investment to associate, associate to subsidiary, control-to-control).

• Account for partial disposals, including transitions from subsidiary to associate/joint venture or investment, and apply appropriate consolidation adjustments.

• Handle complex group structures, including cases of indirect control and multi-level consolidation.

• Apply IAS 21 to account for foreign currency transactions and retranslation, covering monetary and non-monetary items and exchange differences.

• Consolidate foreign operations, including functional vs presentation currency, translation methods, foreign exchange reserves, and treatment on disposal.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

The seminar is addressed to financial controllers of groups and individual companies, accountants, and auditors with either professional qualifications or relevant experience in preparing, analyzing and presenting financial statements.

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Seminar Outline

IFRS 10 – Consolidated Financial Statements

• Control model
• Consolidation procedures

IFRS 3 – Business Combinations

• Identifying a business combination
• The acquisition method
• Forms of consideration transferred
• Identifying fair value of net assets acquired
• Recognizing and measuring goodwill and goodwill impairment

Step Acquisition

• Trade investment to associate
• Trade investment to subsidiary
• Associate to subsidiary
• Control to control transactions
• Consolidation adjustments

Partial Disposals

• Subsidiary to associate/joint Venture
• Subsidiary to investment
• Control to control transactions
• Consolidation adjustments

Complex groups

• Indirect control
• Consolidation procedure

IAS 21 – Foreign currency transactions and Retranslation of Foreign Operations

• Monetary items
• Non-monetary items
• Treatment of exchange differences

Consolidation of Foreign Operations

• Functional currency
• Translation from the functional currency to the presentation currency
• Closing method
• Calculation of foreign exchange reserve
• Disposal of foreign operations

Certification

All participants will be awarded a certificate. Each hour of attendance will account for one unit of Continuing Professional Development (CPD) as required for members of most professional bodies.