The Ultimate Guide to Principles of Group Accounting Under IFRS - Unleash Your Reporting Potential with Wiley

In the ever-evolving world of accounting, it is crucial for businesses to comply with International Financial Reporting Standards (IFRS) when preparing financial statements. Under IFRS, companies are required to present their financial statements in a manner that is transparent, comparable, and reliable. One crucial aspect of financial reporting under IFRS is group accounting.

Group accounting, also known as consolidated financial reporting, is the process of combining the financial statements of a parent company and its subsidiaries to present a single set of financial statements for the entire group. This allows investors, analysts, and other stakeholders to assess the financial position and performance of the group as a whole.

While group accounting can be complex and challenging, mastering the principles is essential for financial professionals to ensure accurate reporting and compliance with IFRS. To help with this, Wiley Regulatory Reporting offers a comprehensive guide to Principles of Group Accounting Under IFRS.

Principles of Group Accounting under IFRS (Wiley Regulatory Reporting)

by Andreas Krimpmann (1st Edition, Kindle Edition)

4.2 out of 5

Language	:	English
File size	:	11409 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	825 pages
Lending	:	Enabled

FREE

Why Choose Wiley Regulatory Reporting?

Wiley Regulatory Reporting is a trusted provider of educational resources for accounting professionals. With over 200 years of experience in publishing, they have established themselves as a leading authority in the field. Their comprehensive guide to Principles of Group Accounting Under IFRS is designed to equip financial professionals with the knowledge and skills needed to navigate the complexities of group accounting.

Here's why you should consider Wiley's guide:

1. Expert Authorship: Wiley's guide is authored by accounting experts who have a deep understanding of IFRS and extensive industry experience. Their expertise ensures that the content is accurate, reliable, and up-to-date.
2. Comprehensive Coverage: The guide covers all the essential principles of group accounting, including the definition of a group, consolidation procedures, non-controlling interests, and the preparation of consolidated financial statements.
3. Practical Examples: The guide provides real-life examples and case studies to illustrate the application of principles in practice. This helps readers understand complex concepts and apply them to real-world scenarios.
4. Interactive Learning: Wiley's guide incorporates interactive exercises and quizzes to enhance the learning experience. This allows readers to test their understanding of the principles and reinforce their knowledge.
5. Official Study Material: Wiley's guide is an official study material for various accounting qualifications, such as the ACCA (Association of Chartered Certified Accountants) and the CIMA (Chartered Institute of Management Accountants). This makes it a trusted resource for aspiring professionals.

An In-Depth Look at the Principles of Group Accounting

Wiley's guide to Principles of Group Accounting Under IFRS covers a wide range of topics to help readers master the subject. Here are some key areas that the guide explores:

1. Definition of a Group

Understanding the concept of a group is crucial for group accounting. Wiley's guide provides a clear and concise explanation of what constitutes a group and how it is formed. It covers topics such as control, significant influence, and joint control, which are essential in determining whether an entity should be consolidated.

2. Consolidation Procedures

The guide delves into the various consolidation procedures involved in group accounting. It explains the steps required to consolidate the financial statements of subsidiaries, including the elimination of intra-group transactions, adjustments for unrealized profits, and the treatment of goodwill. By following these procedures, companies can present a true and fair view of their financial position.

3. Non-Controlling Interests

Non-controlling interests refer to the portion of equity in subsidiaries that is not attributable to the parent company. Wiley's guide explores the accounting treatment of non-controlling interests, including their initial recognition, subsequent measurement, and presentation in the consolidated financial statements. This ensures that the interests of minority shareholders are accurately reflected.

4. Preparation of Consolidated Financial Statements

Finally, the guide provides a step-by-step guide to prepare consolidated financial statements. It covers topics such as the translation of foreign operations, the treatment of investments in associates and joint ventures, and the disclosure requirements for consolidated financial statements. By following these guidelines, companies can ensure compliance with IFRS and provide transparent information to stakeholders.

Unleash Your Reporting Potential with Wiley

Group accounting under IFRS can present numerous challenges for financial professionals. However, with Wiley Regulatory Reporting's comprehensive guide to Principles of Group Accounting Under IFRS, you can unlock your reporting potential and ensure accurate, reliable, and compliant financial statements. Whether you are a seasoned professional or an aspiring accountant, Wiley's guide is an invaluable resource for mastering the complexities of group accounting.

Get your copy of Wiley's guide today and propel your financial reporting skills to new heights!

Principles of Group Accounting under IFRS (Wiley Regulatory Reporting)

by Andreas Krimpmann (1st Edition, Kindle Edition)

4.2 out of 5

Language	:	English
File size	:	11409 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	825 pages
Lending	:	Enabled

FREE

A professional perspective to implementing IFRS 10, 11, and 12

The new International Financial Reporting Standards (IFRS) 10, 11, and 12 are changing group accounting for many businesses. As business becomes increasingly global, more and more firms will need to transition using the codes and techniques described in Principles of Group Accounting under IFRS. This book is a practical guide and reference to the standards related to consolidated financial statements, joint arrangements, and disclosure of interests. Fully illustrated with a step-by-step case study, Principles of Group Accounting under IFRS is equally valuable as an introductory text and as a reference for addressing specific issues that may arise in the process of consolidating group accounts.

The new international standards will bring about significant changes in group reporting, and it is essential for accountants, auditors, and business leaders to understand their implications. Author Andreas Krimpmann is an internationally recognized authority on the transition from GAAP to IFRS, and this new text comes packaged with GAAP/IFRS comparison resources that will help make the changes clear. Other bonus resources include an Excel-based consolidation tool, checklists, and a companion website with the latest information. Learn about:

• Definitions, requirements, processes, and transition techniques for IFRS 10, 11, and 12 covering group level accounting
• Practical implementation strategies demonstrated through a clear case study of a midsize group
• Key concepts related to consolidated financial statements, joint ventures, management consolidation, and disclosure of interests
• Comparisons between GAAP and IFRS to clarify the required changes for international firms

Whatever stage of the consolidation process you are in, you will appreciate the professional perspective in Principles of Group Accounting under IFRS.