Consolidated Financial Statements | Group Accounts | Basic Consolidation Concepts | IFRS 10 | IFRS 3
LINK TO JOIN MY DEDICATED GROUP: / commercespecialist
My website link:
www.comparativeedge.com
This video from Commerce Specialist explains the Basic Concepts of Consolidation of Financial Statements, Explains how to prepare Consolidated Statement of Financial Statements.
Detailed explanation is given on How to Calculate Goodwill on Acquisition, Group Retained Earnings, Group Reserves, Non Controlling Interest, NCI, Provision for Unrealized Profit, Dealing with Inter Group Balances and dealing with Fair Value on Acquisition. Explanation is also given for treatment of Pre and Post Acquisition Profits.
This video is relevant for students of CMA, ACCA F7, Financial Reporting, Corporate Reporting, ACCA F3, Financial Accounting, ACCA SBR, Strategic Business Reporting, CIMA, CA, MBA, CPA, CIA, CA, Financial Accountants and General Accountants.
About:
Commerce Specialist is a Certified Management Accountant (CMA) from USA, is a Fellow of member of HEA UK, holds Certification in International Auditing from ACCA-UK, member of IFA UK and IPA Australia, also holds a Bachelors in Accounting, A teaching qualification of B.Ed., an MBA in Finance along with over 20 years’ experience of working in various MNCs in different sectors including Banking, NBFIs, Retail, Oil & Gas, Telecommunication, and top business schools, colleges and universities.
#groupaccounting #consolidations #accountingforgroups
Пікірлер: 105
Very Simple and easy to understand
I want to salute you personally, you make life easy. Thanks a million
@CommerceSpecialist
Жыл бұрын
🙏👍❤️
I am from sudan i was following more KZread teacher's but really when i watched this vedio i forgot them ,your are excellent teacher
@CommerceSpecialist
9 ай бұрын
Thanks my dear
Super easy way to understand concept Sir , Thank you so much for being there.
THANKS A LOT!Needed someone to clarify everything and you did it sir
@CommerceSpecialist
4 ай бұрын
Ur welcome dear
Great stuff and well simplified .
@CommerceSpecialist
Ай бұрын
Thx dear🙏👍
Outstanding methodology and talented lecturer
@CommerceSpecialist
20 күн бұрын
Thanks a lot dear👍🙏
Sir to summarize my excitement on coming across your teachings I'll simply say you are the best. You make accounting lovable. I'm grateful
@CommerceSpecialist
9 ай бұрын
Thanks a lot dear🙏👍
Clean voice and a very nice presentation ,that is mostly missing with other youtubers.Keep it up boss
@CommerceSpecialist
Жыл бұрын
Thx d3ar
You are amazing thanks from egypt
God bless u sir... Best lecturer👏👏👏
I have learnt a lot from you. You are good at explaining the points.
@CommerceSpecialist
10 ай бұрын
Thanks dear😊👍👍
Your lectures are sooo peaceful and understanding....thank you sir for making such useful videos it helps us alot .....God bless you sir❤❤
@CommerceSpecialist
4 ай бұрын
Ur welcome dear😊👍🙏
❤awesome explanation
Very well explained. Love it. thanks
@CommerceSpecialist
Жыл бұрын
Thx dear Fazil
good mentor...and quality content. excellent sir
@CommerceSpecialist
Жыл бұрын
Thx Mr. Asif
I salute you, sir, for the exceptional explanation!!
@CommerceSpecialist
4 ай бұрын
Thanks a lot dear🙏👍
Sor thanku so much marvelous job i really appreciated and made my concept more clear
@CommerceSpecialist
Жыл бұрын
Thanks Fozia
Excellent. Very clear as always.
@CommerceSpecialist
2 жыл бұрын
Dear Shoib, thx
thank you very much. It was helpful. However, NCI bit is very confusing. Where is it reflected in standalone balance sheet. Could you please clarify
Very well explained
Very nicely explained. Sir . Please share the video on example when Parent co. further increases it's controlling stake in subsidiary in subsequent years from 56% to 72% in Year X1 and 72% to 90% in Year X2. The consideration paid was more than Net asset value of the Subsidiary co.. Query is : if, MI is to be revalued to fair value at the time of further acquisition based on the price of acquisition. Will the premium paid on acquiring in subsequent years result in increase in Goodwill? How will this be treated? How to treat the sale of part investment (without losing the CI) to outsider resulting in increase in MI at a price higher than it was acquired for? Will the profit be adjsuted against goodwill or credited to P&L?
Sir, u r amazing.
@CommerceSpecialist
Ай бұрын
Thx dear🙏👍
My tutor never did a breakdown on each step from easiest to hardest we jumped around a lot! This is so useful thanks very much got my exam Thursday
@CommerceSpecialist
8 ай бұрын
All the best
Excellent presentation, I was wondering I thought NCI at both stakes in pre & post retained earnings?
One of the best lectures, salute you Sir
@CommerceSpecialist
7 ай бұрын
Thanks a lot my dear👍🙏
Thank you so much . Its well explained
@CommerceSpecialist
Жыл бұрын
Ur welcome dear
Thank you really for clear explanation.
@CommerceSpecialist
Жыл бұрын
Thx Sarah
Thank you so much. This has been made easy.
@CommerceSpecialist
9 ай бұрын
👍🙏
Outstanding way of teaching❤
@CommerceSpecialist
Ай бұрын
Thxdear🙏👍
Very well-articulated Prof.
@CommerceSpecialist
4 ай бұрын
Thx dear🙏👍
Am benefiting from this simple but clear explanation
@CommerceSpecialist
3 ай бұрын
Thanks🙏👍
Thank you for sharing this.
@CommerceSpecialist
Жыл бұрын
U are welcome dear
Fantastic
Great video, giving a clear foundation for consolidation.
@CommerceSpecialist
5 ай бұрын
Thx dear🙏👍
@ris123ful
4 ай бұрын
Thank you for your reply. Do you have a video for both balance sheet and P&L scenario together? Also I would like to get your support/consultation to complete a real consolidation which will be due by coming may-24...how I can reach you further ?@@CommerceSpecialist
Impressive lecture
@CommerceSpecialist
20 күн бұрын
Thx dear
Sir please make one more Video relating to this topic
Thank you
Really a specialist 👏🎉
@CommerceSpecialist
Жыл бұрын
Thx ajay
very nice
this is a nice video u covered all the areas that area possible in that area
@CommerceSpecialist
Жыл бұрын
🙏👍❤️
the consolidated financial statement for Intragroup trading does,not match TA=864 and E+L =862.
excellent
You are the best
@CommerceSpecialist
Жыл бұрын
Thanks dear
Very Nice
Please make consolidated statement of P&L Videos because your are our best lecture
@CommerceSpecialist
Жыл бұрын
Video on consolidation is already uploaded dear
Nice video Sir
@CommerceSpecialist
2 жыл бұрын
Thx dear
Good morning sir. Can u pls post a video on treatment of revn surplus of subsidiary in consolidated sopl nd sofp
@CommerceSpecialist
Жыл бұрын
Sure
thank youuu sir
@CommerceSpecialist
Жыл бұрын
Ur welcome dear
Superb
@CommerceSpecialist
Жыл бұрын
Thx Rohan
Hi Sir, Would you please add a lecturing of IFRS 5?🙏🙏🙏
@CommerceSpecialist
Жыл бұрын
Sure
Hello Respected Sir,if we place the investment in subsidiary company in consolidation what will be the effects and why it is being omitted in consolidation ? Thank you
@CommerceSpecialist
10 ай бұрын
Investment in subsidiary gets cancelled with equity in subsidiary, it will be double counting thn
Dear Sir, If there is disinvestment during the FY than what will be impacts on CFS Thanks
@CommerceSpecialist
10 ай бұрын
That will be taken care of in financing activities
Hai, A small doubt, FV on DOA should be 10 M (8M+2M) *25% NCI = 2.5M ( But question says it is 3M), It means we have good will for NCI Portion also ( That means on DOA, they revalued their assets ), So the good will for parent company should be 4.5M & 0.5M for Subsidiary, so we can show that good will separately in individual financial statements or we have to show M in Parent company ? if So, can you pleae explain logic.
@gibsonchari6393
Жыл бұрын
It's not advisable to verify the FV on DOA for NCI with percentages when given the amounts - Just use the amounts given at the DOA, The percentages are for post acquisition NCI calculations only.
Dear Sir, I have a question If the foreign subsidiary is controlled by parent company located in Oman and the time difference is one hour ,how the disclosure will be for local parent to prevent the parent from the incomplianc condition ?
@CommerceSpecialist
6 ай бұрын
Dear ur question is not clear
@aliyaal-sanadi953
6 ай бұрын
@CommerceSpecialist For example: abc co. is a subsidiary for def co. abc Co. Located in Kuwait & def Co.is located in Oman.between them one hour difference.Def Co. in Oman has to dislosue before 10 am, however abc Co disclosing at 10 am ..but def has to wait till 2:00 pm to disclose..here abc in complianced with disclosure law but def Co. Failed to disclose in time and charges for incompliance..is there any solution for this kind of disclosure?
is it possible to have negative Goodwill?
@CommerceSpecialist
8 ай бұрын
Yes dear
Greetings from Armenia 🇦🇲
@CommerceSpecialist
6 ай бұрын
Thanks dear🙏👍
When u start CMA new batch
@CommerceSpecialist
2 жыл бұрын
25th june
Thank you so much for this video, I'm a aat student and im having my exams in a week. This video really helped me. Your explanations are super clear and easy to understand. You're such an underrated lecturer 🤍
@CommerceSpecialist
11 ай бұрын
Thanks and good luck for ur exams❤️🙏👍
Thank you