IFRS®: Consolidated Financial Statements (IFRS 10) and Separate Financial Statements (IAS 27)

Gain fundamental knowledge of compliant IFRS financial statements

Understand the basic guidelines of IFRS 10, Consolidated Financial Statements, and IAS 27, Separate Financial Statements. Build a foundation that will empower you to better assist clients subject to IFRS requirements.

You will learn key concepts, including:

• consolidation requirements and exemptions;
• investment entity accounting;
• consolidation procedures; and
• classification of investments by type in the investor's separate financial statements (subsidiaries, associates, joint arrangements, and financial assets).

Compete effectively in the modern business environment

Many of the world's largest capital markets require or permit the use of International Financial Reporting Standards®.

Whatever your location, you could easily find yourself with a client subject to IFRS requirements.

Understanding IFRS requirements will help you better assist clients subject to these standards and enable you to effectively compete in the modern business world.

Hands-on learning to enhance comprehension

The interactive learning elements and real-life examples will help you implement the key concepts you learn in this course.

The real-world case studies will enable you to apply the core principles of IFRS 10 and IAS 27 to better assist your clients.

This course is part of the IFRS Certificate Program — a comprehensive, integrated curriculum that will give you the foundational training, knowledge, and practical guidance in international accounting standards necessary in today's global business environment.

Who Will Benefit

• Accounting and finance professionals who work for private or public multinational organizations that have adopted IFRS Standards.
• Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS Standards.

Key Topics

• Defining control
• Exemptions from consolidation requirements
• Investment entity accounting
• Consolidation procedures
• Consolidated statements, comprehensive income, and goodwill
• Classifying investments by type in the investor's separate financial statements (subsidiaries, associates, joint arrangements, and financial assets).
• Recognition, measurement, and disclosure requirements

Learning Outcomes

• Recall how investments are recognized in the separate financial statements of the investor.
• Identify which entities must prepare consolidated financial statements and which exemptions are available.
• Recall how the principle of control, as defined in IFRS 10, is applied to determine whether an investor (parent) controls another entity (investee).
• Indicate how the accounting requirements are applied to prepare consolidated financial statements as defined in IFRS 10.