Consolidated Financial Statements for Groups with Subsidiaries and Associates

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Description

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This practical workshop will cover all the basic consolidation adjustments involving subsidiaries and associates. Expert speaker Prof Ng Eng Juan will discuss and illustrate the issues related to the preparation and presentation of consolidated financial statements (consolidated statement of financial position and consolidated statement of profit or loss and other comprehensive income) in the Singapore context for groups with subsidiaries and associates.

This programme is designed specifically for Accountants who have to prepare consolidated financial statements and for auditors who have to verify the appropriateness of the financial statements.

Programme Outline

Introduction

• Who has to present consolidated financial statements?
• Who is exempted?

Consolidation Adjustments for Subsidiaries

• Add across
• Fair value adjustment / purchase price allocation
• Goodwill on consolidation
• Non-controlling interests
• Pre-acquisition and post-acquisition reserves
• Inter-company transactions and unrealised profits/losses
• Other adjustments

Consolidation Adjustments for Associates

• Adjustments from cost to equity accounting
• Direct associate
• Indirect associate

This workshop qualifies for 7.0 CPE hours in Financial Reporting Standards and Pronouncements (Category 1).

What you will learn

At the end of this workshop, you will:

• Be able to prepare the consolidated financial statements in compliance with the Singapore legal and accounting requirements
• Gain practical knowledge and insights into fundamental consolidated accounting issues
• Have a good understanding on the latest developments in this area

Target Audience

Anyone who needs to prepare and verify the appropriateness of consolidated financial statements

• Accountants
• Auditors
• Finance Managers and Directors

Expert Speaker

Professor Ng Eng Juan graduated with B. Ec (first class honours) from Universiti Malaya, and MBA from University of Southern California. He is a fellow of ISCA and a member of MICPA with several years of working experience in an international public accounting firm. Prof Ng has been with the Nanyang Business School, Nanyang Technological University, teaching Financial Accounting subjects in the B Acc and MBA programmes. Over the years, he has won several teaching awards. He also conducts regular continuing professional education programmes for delegates from China, Malaysia and Singapore. Prof Ng has written several publications including “Singapore GAAP”, “Derivatives and Hedge Accounting” and “Practical Guide to Financial Reporting Standards Singapore”, which are published by CCH Asia. He is currently with the Singapore University of Social Sciences (SUSS).