Consolidated Financial Statements (3rd Edition)
Designed to make consolidation more approachable for the student, this textbook by Paul Mahony & Niall MacLochlainn leads the reader step-by-step through the consolidation of financial statements, supported by numerous examples, comprehensive questions and fully worked solutions.
The preparation and presentation of consolidated financial statements is a large and complex area of study that forms an integral part of the financial accounting/corporate reporting syllabi of the accountancy bodies and most accounting, commerce and business studies degree programmes.
Written and designed to make consolidation more approachable for the student, this book leads the reader, using a step-by-step approach, through the consolidation of financial statements, supported by numerous examples, comprehensive questions and fully worked solutions including those from past professional accountancy examination papers.
This 3rd edition is updated to incorporate changes to relevant accounting standards since the 2nd edition (2013) and is up to date to 31 December 2016. This new edition also includes new chapters on:
business combinations achieved in stages; and
vertical/complex group holdings.
Key features of this textbook:
Advice on how to approach examination questions on consolidation.
Worked examples and solutions throughout the text.
A large and comprehensive question bank, requiring the preparation and presentation of a consolidated:
Statement of Financial Position;
Statement of Profit or Loss and Other Comprehensive Income;
Statement of Changes in Equity involving a parent, a subsidiary and a joint venture.
Solutions to all of the questions and a comprehensive set of journal entries dealing with the consolidation procedures and all the ‘complications’.
Workings for questions and worked examples requiring the preparation of a consolidated statement of financial position are presented using both the more traditional T-account method as well as the columnar method now adopted by many lecturers and students.
ISBN: 9781910374771
Published: 18/07/2017
Format: Paperback, 386 pages