Consolidated Financial Statements | Group Accounts | Basic Consolidation Concepts | IFRS 10 | IFRS 3

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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

  • @Princeofkolkata52
    @Princeofkolkata5214 күн бұрын

    Very Simple and easy to understand

  • @armaanryan411
    @armaanryan411 Жыл бұрын

    I want to salute you personally, you make life easy. Thanks a million

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    🙏👍❤️

  • @mudatherelkhalifa40
    @mudatherelkhalifa409 ай 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

    @CommerceSpecialist

    9 ай бұрын

    Thanks my dear

  • @uttamneupane2733
    @uttamneupane27337 ай бұрын

    Super easy way to understand concept Sir , Thank you so much for being there.

  • @harveerarsenal
    @harveerarsenal4 ай бұрын

    THANKS A LOT!Needed someone to clarify everything and you did it sir

  • @CommerceSpecialist

    @CommerceSpecialist

    4 ай бұрын

    Ur welcome dear

  • @Elizabeth-iz1es
    @Elizabeth-iz1esАй бұрын

    Great stuff and well simplified .

  • @CommerceSpecialist

    @CommerceSpecialist

    Ай бұрын

    Thx dear🙏👍

  • @MarwanNasr-pi7ci
    @MarwanNasr-pi7ci26 күн бұрын

    Outstanding methodology and talented lecturer

  • @CommerceSpecialist

    @CommerceSpecialist

    20 күн бұрын

    Thanks a lot dear👍🙏

  • @minimohenry7495
    @minimohenry74959 ай бұрын

    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

    @CommerceSpecialist

    9 ай бұрын

    Thanks a lot dear🙏👍

  • @ajeshnair4682
    @ajeshnair4682 Жыл бұрын

    Clean voice and a very nice presentation ,that is mostly missing with other youtubers.Keep it up boss

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Thx d3ar

  • @mahermahmoud9363
    @mahermahmoud93637 ай бұрын

    You are amazing thanks from egypt

  • @akincalysta1311
    @akincalysta13112 ай бұрын

    God bless u sir... Best lecturer👏👏👏

  • @emmanuelmwesigye6519
    @emmanuelmwesigye651911 ай бұрын

    I have learnt a lot from you. You are good at explaining the points.

  • @CommerceSpecialist

    @CommerceSpecialist

    10 ай бұрын

    Thanks dear😊👍👍

  • @Learn_Arabic_With_Sadia786
    @Learn_Arabic_With_Sadia7864 ай бұрын

    Your lectures are sooo peaceful and understanding....thank you sir for making such useful videos it helps us alot .....God bless you sir❤❤

  • @CommerceSpecialist

    @CommerceSpecialist

    4 ай бұрын

    Ur welcome dear😊👍🙏

  • @sajidhameed2657
    @sajidhameed26577 ай бұрын

    ❤awesome explanation

  • @fazilamin4215
    @fazilamin4215 Жыл бұрын

    Very well explained. Love it. thanks

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Thx dear Fazil

  • @asifsurani5563
    @asifsurani5563 Жыл бұрын

    good mentor...and quality content. excellent sir

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Thx Mr. Asif

  • @abubacarrbah7626
    @abubacarrbah76264 ай бұрын

    I salute you, sir, for the exceptional explanation!!

  • @CommerceSpecialist

    @CommerceSpecialist

    4 ай бұрын

    Thanks a lot dear🙏👍

  • @foziaabbasali8494
    @foziaabbasali8494 Жыл бұрын

    Sor thanku so much marvelous job i really appreciated and made my concept more clear

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Thanks Fozia

  • @shoaibmohammad8334
    @shoaibmohammad83342 жыл бұрын

    Excellent. Very clear as always.

  • @CommerceSpecialist

    @CommerceSpecialist

    2 жыл бұрын

    Dear Shoib, thx

  • @user-dt7li5mm4v
    @user-dt7li5mm4v9 ай бұрын

    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

  • @harshanarajapaksha
    @harshanarajapaksha9 ай бұрын

    Very well explained

  • @hemendrakumarvarshney8825
    @hemendrakumarvarshney882510 ай бұрын

    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?

  • @richagarg6317
    @richagarg6317Ай бұрын

    Sir, u r amazing.

  • @CommerceSpecialist

    @CommerceSpecialist

    Ай бұрын

    Thx dear🙏👍

  • @12OverThru9
    @12OverThru98 ай бұрын

    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

    @CommerceSpecialist

    8 ай бұрын

    All the best

  • @joechibangu2007
    @joechibangu20077 ай бұрын

    Excellent presentation, I was wondering I thought NCI at both stakes in pre & post retained earnings?

  • @mustansarkhurshid
    @mustansarkhurshid7 ай бұрын

    One of the best lectures, salute you Sir

  • @CommerceSpecialist

    @CommerceSpecialist

    7 ай бұрын

    Thanks a lot my dear👍🙏

  • @cynthiatadiwanashe8229
    @cynthiatadiwanashe8229 Жыл бұрын

    Thank you so much . Its well explained

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Ur welcome dear

  • @amollosarah6390
    @amollosarah6390 Жыл бұрын

    Thank you really for clear explanation.

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Thx Sarah

  • @sarahsitenda1714
    @sarahsitenda171410 ай бұрын

    Thank you so much. This has been made easy.

  • @CommerceSpecialist

    @CommerceSpecialist

    9 ай бұрын

    👍🙏

  • @user-tp4qn5nz8n
    @user-tp4qn5nz8nАй бұрын

    Outstanding way of teaching❤

  • @CommerceSpecialist

    @CommerceSpecialist

    Ай бұрын

    Thxdear🙏👍

  • @zakarianashiru7733
    @zakarianashiru77334 ай бұрын

    Very well-articulated Prof.

  • @CommerceSpecialist

    @CommerceSpecialist

    4 ай бұрын

    Thx dear🙏👍

  • @apostlefranciskhaembaministryi
    @apostlefranciskhaembaministryi3 ай бұрын

    Am benefiting from this simple but clear explanation

  • @CommerceSpecialist

    @CommerceSpecialist

    3 ай бұрын

    Thanks🙏👍

  • @aaroacademy
    @aaroacademy Жыл бұрын

    Thank you for sharing this.

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    U are welcome dear

  • @mohamedabbas1203
    @mohamedabbas1203 Жыл бұрын

    Fantastic

  • @ris123ful
    @ris123ful5 ай бұрын

    Great video, giving a clear foundation for consolidation.

  • @CommerceSpecialist

    @CommerceSpecialist

    5 ай бұрын

    Thx dear🙏👍

  • @ris123ful

    @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

  • @AbidHussain-it9oc
    @AbidHussain-it9oc23 күн бұрын

    Impressive lecture

  • @CommerceSpecialist

    @CommerceSpecialist

    20 күн бұрын

    Thx dear

  • @madelights3344
    @madelights3344 Жыл бұрын

    Sir please make one more Video relating to this topic

  • @thuwannasuha8591
    @thuwannasuha85914 ай бұрын

    Thank you

  • @ajaykumar-et8nx
    @ajaykumar-et8nx Жыл бұрын

    Really a specialist 👏🎉

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Thx ajay

  • @youarethealchemyjoetk7108
    @youarethealchemyjoetk7108 Жыл бұрын

    very nice

  • @mugishacharles6710
    @mugishacharles6710 Жыл бұрын

    this is a nice video u covered all the areas that area possible in that area

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    🙏👍❤️

  • @sampadameshram7886
    @sampadameshram7886 Жыл бұрын

    the consolidated financial statement for Intragroup trading does,not match TA=864 and E+L =862.

  • @tanweerabbasabbas649
    @tanweerabbasabbas6497 ай бұрын

    excellent

  • @mreben9183
    @mreben9183 Жыл бұрын

    You are the best

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Thanks dear

  • @TheTalentedFamily
    @TheTalentedFamily2 ай бұрын

    Very Nice

  • @abduljebararsii4969
    @abduljebararsii4969 Жыл бұрын

    Please make consolidated statement of P&L Videos because your are our best lecture

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Video on consolidation is already uploaded dear

  • @shaileshcastelino6950
    @shaileshcastelino69502 жыл бұрын

    Nice video Sir

  • @CommerceSpecialist

    @CommerceSpecialist

    2 жыл бұрын

    Thx dear

  • @fathimashafaishaq5864
    @fathimashafaishaq5864 Жыл бұрын

    Good morning sir. Can u pls post a video on treatment of revn surplus of subsidiary in consolidated sopl nd sofp

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Sure

  • @nisallaksara225
    @nisallaksara225 Жыл бұрын

    thank youuu sir

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Ur welcome dear

  • @rohanfernandes920
    @rohanfernandes920 Жыл бұрын

    Superb

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Thx Rohan

  • @SureshBabu-fr4qn
    @SureshBabu-fr4qn Жыл бұрын

    Hi Sir, Would you please add a lecturing of IFRS 5?🙏🙏🙏

  • @CommerceSpecialist

    @CommerceSpecialist

    Жыл бұрын

    Sure

  • @aliimran7620
    @aliimran762010 ай бұрын

    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

    @CommerceSpecialist

    10 ай бұрын

    Investment in subsidiary gets cancelled with equity in subsidiary, it will be double counting thn

  • @sankarojha2281
    @sankarojha228110 ай бұрын

    Dear Sir, If there is disinvestment during the FY than what will be impacts on CFS Thanks

  • @CommerceSpecialist

    @CommerceSpecialist

    10 ай бұрын

    That will be taken care of in financing activities

  • @anilreddy9787
    @anilreddy9787 Жыл бұрын

    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

    @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.

  • @aliyaal-sanadi953
    @aliyaal-sanadi9536 ай бұрын

    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

    @CommerceSpecialist

    6 ай бұрын

    Dear ur question is not clear

  • @aliyaal-sanadi953

    @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?

  • @promisekalamba9261
    @promisekalamba92618 ай бұрын

    is it possible to have negative Goodwill?

  • @CommerceSpecialist

    @CommerceSpecialist

    8 ай бұрын

    Yes dear

  • @sedrak2552
    @sedrak25526 ай бұрын

    Greetings from Armenia 🇦🇲

  • @CommerceSpecialist

    @CommerceSpecialist

    6 ай бұрын

    Thanks dear🙏👍

  • @SaeedKhan-zm3zr
    @SaeedKhan-zm3zr2 жыл бұрын

    When u start CMA new batch

  • @CommerceSpecialist

    @CommerceSpecialist

    2 жыл бұрын

    25th june

  • @nafihanajeem9278
    @nafihanajeem927811 ай бұрын

    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

    @CommerceSpecialist

    11 ай бұрын

    Thanks and good luck for ur exams❤️🙏👍

  • @imannadhirah9025
    @imannadhirah9025 Жыл бұрын

    Thank you