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    Foreign Currency Consolidation

    Example: Consolidation with Foreign Currencies

    by Silvia

    Last update: 10/2022 (video added to the end of the article) In today’s world, most groups spread their activities abroad and logically different members of the group operate in different currencies. Is the consolidation process of combining the financial statements of two (or more) companies…

    Consolidation and Groups, Financial Statements, Foreign Currency, IFRS Videos 78

    How to calculate impairment on intercompany loans?

    by Silvia

    How to determine the impairment on intercompany loans under IFRS 9? What are the special considerations in relation to groups and internal loans? Learn here!

    Consolidation and Groups, Financial Instruments 1

    How to deal with different useful lives of PPE within the group?

    by Silvia

    How to handle the situation when the parent requires subsidiary to apply different depreciation rates or useful lives than in the local legislation.

    Consolidation and Groups, IFRS Videos 18

    Expected Credit Loss on Intercompany Loans

    by Silvia

    Should you ever recognize impairment, or a provision on your intercompany loan (if you are a lender, of course)? Why would you do that when all intercompany balances are eliminated on consolidation and there’s nothing left in the consolidated financial statements – no loan, no…

    Financial Instruments 17
    Disposal of subsidiary IFRS 10

    Example: IFRS 10 Disposal of Subsidiary

    by Silvia

    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…

    Consolidation and Groups, Financial Statements 72

    How to Consolidate Special Purpose Entity

    by Silvia

    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 I lose my…

    Consolidation and Groups, Financial Statements 57

    How to account for intercompany loans under IFRS

    by Silvia

    How to account for intercompany loans under IFRS when there is no documentation, loans are not at commercial terms or there is no fixed repayment date? Learn here!

    Consolidation and Groups, Financial Instruments 88
    IFRS deemed disposal

    Accounting for Deemed Disposal of Associate (IAS 28)

    by Silvia

    Sometimes, the things can happen behind your back – without you even noticing. And, these things can affect you somehow. Let me tell you a short story. I participated in an audit of a big insurance company and our senior asked me to look at…

    Consolidation and Groups 27
    Foreign Currency Cash Flows Consolidated

    How to Make Consolidated Statement of Cash Flows with Foreign Currencies

    by Silvia

    Did you know that many groups prepare their consolidated cash flow statement completely incorrectly? And, if you are well-experienced accountant, you can actually spot the faulty numbers instantly when you look to the statement of cash flows. Sadly, this wrong method is often taught in…

    Consolidation and Groups, Financial Statements, Foreign Currency, IFRS Videos 52
    Impairment of Goodwill

    How to Test Goodwill for Impairment

    by Silvia

    When a company acquires control over another company, then often a goodwill arises, too. You should present it as an intangible asset, but when you think about it carefully, a goodwill is not a typical asset, because unlike other assets, you cannot sell it to…

    Consolidation and Groups, Non-current Assets 89
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    Categories

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