Consolidated Financial Statements

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This textbook concentrates on the theoretical and practical treatment of problems concerning consolidated financial statements, using an integrated and logical approach and paying careful attention to methodical and educational requirements. Applying current accounting theory, the book demonstrates all the topics relevant to consolidation and illustrates them with examples. There is also an overview of the regulations concerning each topic in the accounting standards of the Swiss GAAP FER, IFRS and US GAAP. The book includes 19 case studies on the individual topics as well as two comprehensive case studies.

Contents:

• Overview of the regulations concerning all the relevant topics in the accounting standards
• Systematic procedure for initial and subsequent consolidation with 100% interest (revaluation per acquisition, elimination of investments against equity)
• Methods of goodwill accounting (impairment-only approach, capitalisation and amortisation of goodwill, goodwill offset against equity)
• Accounting for non-controlling interest (purchase method, full goodwill method)
• Proportional consolidation and equity accounting procedures
• Consistent accrual of deferred income tax (liability method)
• Methods of foreign currency translation (temporal method, current rate method, concept of functional currency)
• Consolidated cash flow statement concepts
• Consolidation for multilevel groups (gradual and simultaneous consolidation), business combination achieved in stages and deconsolidation
• Nature and purpose of segment reporting, statement of changes in equity, disclosure of group assets as well as the treatment of changes in accounting policies and correction of errors
• Case studies covering all the relevant aspects of consolidation

 

Consolidated Financial Statements is intended for accountants, auditors and university, polytechnic and executive students as well as other practitioners who are interested in gaining an understanding of the subject.