Group Accounting
Presenting group activity as a single entity requires a methodical approach. It is a complex process, changing with group size and status, and getting the consolidated financial statements right can be a challenge. This course explores the issues and assesses the risks and responsibilities of a group audit.
£150 +VAT
Group Accounting
£150 +VAT
365 days’ access
This course will enable you to
- Define group structures and be aware of who must prepare group accounts
- Prepare consolidated financial statements
- Understand how group status changes depending on acquisitions and disposals
- Grasp the complexities of audit planning for a group
About the course
Group accounting aims to enable all involved companies to present as a single entity. This requires a methodical approach, particularly as complexity increases with the group’s size and changes in control of subsidiaries. The preparation of consolidated financial statements therefore presents challenges, necessitating consistent group-wide controls.
This course explores the structure of groups and how varying levels of percentage ownership interest can impact relationships between group members. It summarises the strategy needed for group audits, detailing how the group audit engagement team interacts with component auditors to avoid risks of material misstatement, and highlights the common errors and assumptions made during group audits.
Please Note: This course only covers UK regulations
Contents
An introduction to group accounting
Defining group accounting
When to prepare?
Mandatory group accounting
Voluntary preparation
Auditing group accounts
Initial preparation of group accounts
The purpose of eliminations
Eliminating intra-group transactions
Preparing consolidated financial statements
Consolidated income statement/profit and loss account
Consolidated statement of financial position
Consolidated statement of cash flows
Additional cash flow considerations
Acquisitions and disposals
Acquisition of a subsidiary
Alternative acquisitions
Disposal of a subsidiary
Deemed disposals
Partial disposal – control lost
Auditing group financial statements
Planning a group audit
Component auditors
Responsibilities
Auditing group accounts
Auditing the consolidation
Common problems
Author
Steve Collings
Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA”s Practice Network Panel.
23 reviews for Group Accounting
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Angeline Ishemunyoro –
It was a good refresher for me. I currently work for a group of companies where I am responsible for consolidation. I wish these courses were more practical rather than just theoretical so that they stick better.
Andrew Brundle –
Great course as always 🙂
Zain Saleh –
Excellent course, delivered in a methodical manner in manageable chunks to help digest with ease!
Gary Edwards –
Informative and clear
Ajay Taneja –
Fantastic course!!
Gbenga Orotayo –
I thought this course was extremely good and refreshing. It was not only theory based but gave some good practical examples relevant in the workplace. I am glad I chose this course to refresh my knowledge on the forever evolving Group accounting.
Rishi Sharma –
A relevant course!
Andrew Thomas –
.
Stephen Sotra –
Good explanation. Sadly a few typo’s here and there.
Daniel Sawyer –
Course was really useful as a reminder but does have a bias towards working in practice rather than in Industry
Shane Peters –
Greatly needed as an auditor
Daniel Henry –
Okay
Farrukh Mehmood –
A concise and helpful overview of the group audits
Vishvaprem Punjabi –
Fantastic course
Olajide Akintola –
Great
Sarah Ramcharitar –
the details of the pitfalls and intricacies of group accounting were highlighted very well
Patsy Perley –
I enjoyed the couse! it was very thorough in parts but I would of liked more practical examples. The final topic relating to the Audit was not of use to me as I work in industry but I guess we need to see the complete picture.
Fong Leng Sam –
A well-structured illustration and case study will help attendees gain a deeper understanding of group accounting,
Shafick Mustun –
Very interesting
Rebaone Pheko –
I am very happy with way this course was structured and the way Steve explained it in his videos it was perfect and to the point and the closing questions were marvellous and refreshing
Radhakrishnan Kunnathery Pallathmadham –
comprehensive coverage of the topic
Lashelle Roper –
Information was relevant and practical
Galeage Pilatwe –
It’s a very good course, perfectly structured for self learning