A Guide to International Financial Reporting Standards for Groups
Mastering Group Financial Statements Volume 1 is part of a two-volume set which provides Accounting students and practitioners with an invaluable practical guide to the often complex world of group accounting. Volume 1 illustrates how to apply the control definition in International Financial Reporting Standards (IFRS) 10 Consolidated Financial Statements and covers in detail the principles and procedures for consolidating subsidiaries, in accordance with IFRS 10. The book addresses the key disclosure requirements of group financial statements and explains the basic concepts of business combinations. It gives detailed explanations and numerous practical worked examples to provide readers with a comprehensive overview of the IFRS principles and concepts underlying group accounting. It therefore serves as a roadmap for preparing group financial statements in varying scenarios. Along with technical group accounting guidance, this text offers practical group accounting exam techniques, intended to minimise the time students spend answering questions and maximise marks earned. The comprehensive selection of self-assessment questions at the end of each chapter, and online case study questions and solutions, allow students to test their understanding of the subject matter and sharpen their exam technique. Extensive lecturer support material is available to prescribing institutions and is presented in the form of a large question bank, with solutions, covering second- to fourth-year (Honours) level, to be used effectively as: • test and exam questions • tutorial questions • additional classroom examples • PowerPoint® slides. Student and lecturer support and supplementary material is available at https://juta.co.za/pages/juta-passmasters.
Chapter 1: An introduction to group financial statements principle references: IFRS 9, 10Chapter 2: Business combination – basics principle references: IFRS 3, 10, IAS12Chapter 3: Consolidation at acquisition date principle references: IFRS 3, 10 IAS12Chapter 4: Consolidation after acquisition date principle references: IFRS 10Chapter 5: Adjusting for intragroup transactions and balances principle references: IFRS 10Chapter 6: Group statements – sundry advanced aspectsChapter 7: Complex groups principle references: IFRS3, 10Chapter 8: Associates principle references: IAS 28Chapter 9: Joint Arrangements principle references: IFRS 11, IAS 28Chapter 10: Change in interests in investments - aquisitions Principle references: IFRS 3, IFRS 10, IAS 28Chapter 11: Change in interests in investments - disposals Principle references: IFRS 10, IAS 28Chapter 12: Change in interests in investments - other principle references: IFRS 3, IFRS 10, IAS 28Chapter 13: Foreign operations principle references: IAS 21, IFRS 3, IFRS 10Chapter 14: Consolidated statement of cash flows principle references: IAS 7Chapter 15: Disclosure of interests in other entities principle references: IFRS 12
Undergraduate and post-graduate financial accounting students at universities, universities of technology and private HE institutions.