Preparing Group Consolidation Under MFRS 3 And MFRS 10

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Introduction:

Equity is not the sole determinant for control. Apply the principles of control, joint control and significant influence appropriately based guidance given in MFRS 10, MFRS 11 and MFRS 128.

The principles for the preparation of a set of consolidated financial statements are set out in MFRS 3 and MFRS 10 under different scenarios:

  • At business combinations
  • Post business combination

How Will You Benefit

Upon completion of this programme, the participants will be able to:

  • Enhance their consolidation principles
  • Address changes in group structures

Who Should Attend

  • Group Accountants

Methodology

Lecture cum practice and case studie examples

Module

  • INTRODUCTION TO MFRS 10, MFRS 3 (REVISED) AND MFRS 127 (REVISED)
  • PRINCIPLES UNDERLYING THESE REVISED STANDARDS – SCOPE AND OBJECTIVES
  • CONTROL REDEFINED UNDER MFRS 10
  • JOINT CONTROL UNDER MFRS 11
  • IDENTIFYING A BUSINESS COMBINATION
  • APPLYING ACQUISITION METHOD OF ACCOUNTING FOR A BUSINESS COMBINATION – FAIR VALUE ADJUSTMENTS AND GOODWILL ON CONSOLIDATION
  • RECOGNIZING AND MEASURING IDENTIFIABLE ASSETS ACQUIRED AND THE LIABILITIES ASSUMED IN A BUSINESS COMBINATION
  • ACCOUNTING FOR NON-CONTROLLING INTERESTS (NCI) OF AN ACQUIRE
  • APPROPRIATE CONSOLIDATION ADJUSTMENTS FOR A BUSINESS COMBINATION
  • POST-COMBINATION ACCOUNTING
  • STEP ACQUISITION AND PARTIAL DISPOSALS
  • COMPLEX GROUP STRUCTURES
  • RELATED STANDARDS TO APPLY
  • RECOGNITION CRITERIA FOR INTERESTS IN JOINT ARRANGEMENTS AND ASSOCIATES
  • EQUITY METHOD OF ACCOUNTING
  • IDENTIFYING HIGH AND LOW RISK COMPANIES
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Duration: 2 Days


Note: In-house course is available. Request it HERE

Introduction:

Equity is not the sole determinant for control. Apply the principles of control, joint control and significant influence appropriately based guidance given in MFRS 10, MFRS 11 and MFRS 128.

The principles for the preparation of a set of consolidated financial statements are set out in MFRS 3 and MFRS 10 under different scenarios:

  • At business combinations
  • Post business combination

How Will You Benefit

Upon completion of this programme, the participants will be able to:

  • Enhance their consolidation principles
  • Address changes in group structures

Who Should Attend

  • Group Accountants

Methodology

Lecture cum practice and case studie examples

Module

  • INTRODUCTION TO MFRS 10, MFRS 3 (REVISED) AND MFRS 127 (REVISED)
  • PRINCIPLES UNDERLYING THESE REVISED STANDARDS – SCOPE AND OBJECTIVES
  • CONTROL REDEFINED UNDER MFRS 10
  • JOINT CONTROL UNDER MFRS 11
  • IDENTIFYING A BUSINESS COMBINATION
  • APPLYING ACQUISITION METHOD OF ACCOUNTING FOR A BUSINESS COMBINATION – FAIR VALUE ADJUSTMENTS AND GOODWILL ON CONSOLIDATION
  • RECOGNIZING AND MEASURING IDENTIFIABLE ASSETS ACQUIRED AND THE LIABILITIES ASSUMED IN A BUSINESS COMBINATION
  • ACCOUNTING FOR NON-CONTROLLING INTERESTS (NCI) OF AN ACQUIRE
  • APPROPRIATE CONSOLIDATION ADJUSTMENTS FOR A BUSINESS COMBINATION
  • POST-COMBINATION ACCOUNTING
  • STEP ACQUISITION AND PARTIAL DISPOSALS
  • COMPLEX GROUP STRUCTURES
  • RELATED STANDARDS TO APPLY
  • RECOGNITION CRITERIA FOR INTERESTS IN JOINT ARRANGEMENTS AND ASSOCIATES
  • EQUITY METHOD OF ACCOUNTING
  • IDENTIFYING HIGH AND LOW RISK COMPANIES

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Oh Ai Sim
Biodata: Oh is a qualified Malaysian Certified Public Accountant and has more than 20 years of auditing experience with one of the big four accounting firms in Malaysia and Singapore. Her last position before she left the profession was that of Executive Director. Her client portfolio includes listed companies, multi-national companies and private entities, covering specialized industries in the technology sectors, property development and construction, retail and warehousing, manufacturing and trading as well as charitable organizations. She was also involved in initial public offerings, mergers and acquisitions, due diligence and corporate restructuring. During her auditing career, she was actively involved in technical training, both in-house and for public seminars. She was the course director for certain technical courses and was involved in the course structures, content development and training schedules.She left the auditing profession and decided to specialize in IFRS training for corporates. She conducts training for MIA, CPA Australia, ACCA Malaysia, ISCA as well as in-house structured training. Her in-house training engagements comprise listed companies involved in property development, construction and the service industry. For her in-house training engagements, the course contents are modified to meet the engagement's expectations. She recently included in her training commitments the ACCA corporate reporting papers with the objective of bridging exam requirements and work life experience. She brings along her experience and knowledge in auditing and corporate reporting which complements the academic professional examinations and programmes

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