Course description
Consolidation of Financial Statements
Increasedand more complex requirements set onfinancial communication related to consolidated accounts have imposed consolidation as a key competence within a financial department.
This training, embedding numerous practical exercises, will cover the full consolidation process and highlights difference in treatment between Luxembourg GAAP and IFRS as imposed on consolidated financial statements
Upcoming start dates
Who should attend?
Who Should Attend
Members of the consolidation / accounting services, Accountants, Chartered Accountants and Trust staff involved in the consolidation of financial statements, Internal auditors and compliance officers.
Training content
Luxembourg legal and regulatory framework
- Luxembourg regulatory framework and IFRS
- Exemptions and exclusions
- Content and closing date of the financial statements
Determination of consolidation
- General Principles
- Subsidiaries, joint ventures and associated companies
- Determination of the percentage of control
- Special treatment of special purpose entities
Basis of consolidation
- General Principles
- Fully consolidated subsidiaries
- Proportional consolidation of joint ventures
- Equity Associates
- Determination of percentage interest
Operations prior to consolidation
- Standardisation of accounting principles and policies
- Standardisation of closing dates
- Identification and recognition of deferred taxes
- Entities abroad and issue of foreign currency
Stages of consolidation
- Elimination of balances and transactions within a company
- Treatment of own shares
- Treatment of changes in scope of consolidation (acquisitions and disposals)
Presentation and content of financial statements
- Luxembourg accounting principles
- IFRS in the specific context of the preparation of consolidated financial statements
Certification / Credits
- Understand how to manage each major element of working capital.
- Understand how to forecast the cash impact of working capital.
- Analyze liquidity and working capital efficiency.
- Understand the sources of funding and uses of excess cash resources.
- Create cash flow forecasts.a Describe the general principles of consolidation;
- Identify and distinguish the different methods of consolidation of accounts;
- Carry out a consolidation of accounts in accordance with all stages of the process and with the appropriate accounting framework.
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Convertas Management Consultants
CONVERTAS offers a series of specialized training services across all areas of business, helping employees develop and increase their skills. Our highly qualified trainers through our specifically designed courses and workshops, as well as our innovative training methodology, will provide...