LCCI Alausa Ikeja Lagos
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The process of preparing consolidated financial statements for a group of companies is more complicated than preparing financial statements for a stand alone company. There are specific steps to follow in order to prepare group financial statements.
This training aims to provide detail explanation of the consolidation process, scope of consolidation, its methods and techniques use for consolidation, monetary conversion, intercompany matching, consolidation adjustment and more would be touched. During the training, participants will go through all the steps involved in consolidation.
• Definition of control concept
• Determination of the consolidation scope
• Consolidation methods
• Basic consolidation principles
• Elimination of intra-group transactions
• Harmonization of accounting principles
• Elimination of dividends
• Goodwill allocation
• Non controlling interests
• Translation of foreign financial statements and cumulative translation difference (CTD)