Consolidated Financial Statements | Group Accounts | Basic Consolidation Concepts | IFRS 10 | IFRS 3

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This video from Commerce Specialist explains the Basic Concepts of Consolidation of Financial Statements, Explains how to prepare Consolidated Statement of Financial Statements.
Detailed explanation is given on How to Calculate Goodwill on Acquisition, Group Retained Earnings, Group Reserves, Non Controlling Interest, NCI, Provision for Unrealized Profit, Dealing with Inter Group Balances and dealing with Fair Value on Acquisition. Explanation is also given for treatment of Pre and Post Acquisition Profits.
This video is relevant for students of CMA, ACCA F7, Financial Reporting, Corporate Reporting, ACCA F3, Financial Accounting, ACCA SBR, Strategic Business Reporting, CIMA, CA, MBA, CPA, CIA, CA, Financial Accountants and General Accountants.
About:
Commerce Specialist is a Certified Management Accountant (CMA) from USA, is a Fellow of member of HEA UK, holds Certification in International Auditing from ACCA-UK, member of IFA UK and IPA Australia, also holds a Bachelors in Accounting, A teaching qualification of B.Ed., an MBA in Finance along with over 20 years’ experience of working in various MNCs in different sectors including Banking, NBFIs, Retail, Oil & Gas, Telecommunication, and top business schools, colleges and universities.
#groupaccounting #consolidations #accountingforgroups

[@mudatherelkhalifa40]

I am from sudan i was following more RUclips teacher's but really when i watched this vedio i forgot them ,your are excellent teacher

[@CommerceSpecialist]

Thanks my dear

[@armaanryan411]

I want to salute you personally, you make life easy. Thanks a million

[@CommerceSpecialist]

🙏👍❤️

[@Ha.sanahh]

No words to explain your Class

[@minimohenry7495]

Sir to summarize my excitement on coming across your teachings I'll simply say you are the best. You make accounting lovable. I'm grateful

[@CommerceSpecialist]

Thanks a lot dear🙏👍

[@Ha.sanahh]

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[@Learn_Arabic_With_Sadia786]

Your lectures are sooo peaceful and understanding....thank you sir for making such useful videos it helps us alot .....God bless you sir❤❤

[@CommerceSpecialist]

Ur welcome dear😊👍🙏

[@apostlefranciskhaembaministryi]

Am benefiting from this simple but clear explanation

[@CommerceSpecialist]

Thanks🙏👍

[@ajeshnair4682]

Clean voice and a very nice presentation ,that is mostly missing with other youtubers.Keep it up boss

[@CommerceSpecialist]

Thx d3ar

[@Ha.sanahh]

Thank You Thank You More...❤️

[@RogerNzally]

I really appreciate your videos and your teachings. I have learned a lot from you.

[@CommerceSpecialist]

@@RogerNzally thx dear👍🙏

[@12OverThru9]

My tutor never did a breakdown on each step from easiest to hardest we jumped around a lot! This is so useful thanks very much got my exam Thursday

[@CommerceSpecialist]

All the best

[@uttamneupane2733]

Super easy way to understand concept Sir , Thank you so much for being there.

[@emmanuelmwesigye6519]

I have learnt a lot from you. You are good at explaining the points.

[@CommerceSpecialist]

Thanks dear😊👍👍

[@harveerarsenal]

THANKS A LOT!Needed someone to clarify everything and you did it sir

[@CommerceSpecialist]

Ur welcome dear

[@Princeofkolkata52]

Very Simple and easy to understand

[@HamzaHussain-c3v]

Outstanding way of teaching❤

[@CommerceSpecialist]

Thxdear🙏👍

[@Elizabeth-iz1es]

Great stuff and well simplified .

[@CommerceSpecialist]

Thx dear🙏👍

[@hemendrakumarvarshney8825]

Very nicely explained. Sir . Please share the video on example when Parent co. further increases it's controlling stake in subsidiary in subsequent years from 56% to 72% in Year X1 and 72% to 90% in Year X2. The consideration paid was more than Net asset value of the Subsidiary co.. Query is : if, MI is to be revalued to fair value at the time of further acquisition based on the price of acquisition. Will the premium paid on acquiring in subsequent years result in increase in Goodwill? How will this be treated? How to treat the sale of part investment (without losing the CI) to outsider resulting in increase in MI at a price higher than it was acquired for? Will the profit be adjsuted against goodwill or credited to P&L?

[@asifsurani5563]

good mentor...and quality content. excellent sir

[@CommerceSpecialist]

Thx Mr. Asif

[@foziaabbasali8494]

Sor thanku so much marvelous job i really appreciated and made my concept more clear

[@CommerceSpecialist]

Thanks Fozia

[@MarwanNasr-pi7ci]

Outstanding methodology and talented lecturer

[@CommerceSpecialist]

Thanks a lot dear👍🙏

[@mugishacharles6710]

this is a nice video
u covered all the areas that area possible in that area

[@CommerceSpecialist]

🙏👍❤️

[@fazilamin4215]

Very well explained. Love it. thanks

[@CommerceSpecialist]

Thx dear Fazil

[@abubacarrbah7626]

I salute you, sir, for the exceptional explanation!!

[@CommerceSpecialist]

Thanks a lot dear🙏👍

[@mustansarkhurshid]

One of the best lectures, salute you Sir

[@CommerceSpecialist]

Thanks a lot my dear👍🙏

[@AbidHussain-it9oc]

Impressive lecture

[@CommerceSpecialist]

Thx dear

[@amollosarah6390]

Thank you really for clear explanation.

[@CommerceSpecialist]

Thx Sarah

[@zakarianashiru7733]

Very well-articulated Prof.

[@CommerceSpecialist]

Thx dear🙏👍

[@nafihanajeem9278]

Thank you so much for this video, I'm a aat student and im having my exams in a week. This video really helped me. Your explanations are super clear and easy to understand. You're such an underrated lecturer 🤍

[@CommerceSpecialist]

Thanks and good luck for ur exams❤️🙏👍

[@akincalysta1311]

God bless u sir... Best lecturer👏👏👏

[@madelights3344]

Sir please make one more Video relating to this topic

[@shoaibmohammad8334]

Excellent. Very clear as always.

[@CommerceSpecialist]

Dear Shoib, thx

[@ris123ful]

Great video, giving a clear foundation for consolidation.

[@CommerceSpecialist]

Thx dear🙏👍

[@ris123ful]

Thank you for your reply. Do you have a video for both balance sheet and P&L scenario together? Also I would like to get your support/consultation to complete a real consolidation which will be due by coming may-24...how I can reach you further ?@@CommerceSpecialist

[@cakuuleyare7730]

Thank you very much. Well noted

[@joechibangu2007]

Excellent presentation, I was wondering I thought NCI at both stakes in pre & post retained earnings?

[@maher.datainsights]

You are amazing thanks from egypt

[@sarahsitenda1714]

Thank you so much. This has been made easy.

[@CommerceSpecialist]

👍🙏

[@richagarg6317]

Sir, u r amazing.

[@CommerceSpecialist]

Thx dear🙏👍

[@aaroacademy]

Thank you for sharing this.

[@CommerceSpecialist]

U are welcome dear

[@abduljebararsii4969]

Please make consolidated statement of P&L Videos because your are our best lecture

[@CommerceSpecialist]

Video on consolidation is already uploaded dear

[@Shubhamsharma-lm9wr]

Please arrange complete class consolidation

[@cynthiatadiwanashe8229]

Thank you so much . Its well explained

[@CommerceSpecialist]

Ur welcome dear

[@harshanarajapaksha]

Very well explained

[@imannadhirah9025]

Thank you

[@GhaziFaiz-b4v]

thank you very much. It was helpful. However, NCI bit is very confusing. Where is it reflected in standalone balance sheet. Could you please clarify

[@mohamedabbas1203]

Fantastic

[@mreben9183]

You are the best

[@CommerceSpecialist]

Thanks dear

[@pulchritude3901]

THANK YOU

[@sajidhameed2657]

❤awesome explanation

[@youarethealchemyjoetk7108]

very nice

[@fathimashafaishaq5864]

Good morning sir.
Can u pls post a video on treatment of revn surplus of subsidiary in consolidated sopl nd sofp

[@CommerceSpecialist]

Sure

[@TheTalentedFamily]

Very Nice

[@ajaykumar-et8nx]

Really a specialist 👏🎉

[@CommerceSpecialist]

Thx ajay

[@tanweerabbasabbas649]

excellent

[@SureshBabu-fr4qn]

Hi Sir,
Would you please add a lecturing of IFRS 5?🙏🙏🙏

[@CommerceSpecialist]

Sure

[@sampadameshram7886]

the consolidated financial statement for Intragroup trading does,not match TA=864 and E+L =862.

[@aliimran7620]

Hello Respected Sir,if we place the investment in subsidiary company in consolidation what will be the effects and why it is being omitted in consolidation ? Thank you

[@CommerceSpecialist]

Investment in subsidiary gets cancelled with equity in subsidiary, it will be double counting thn

[@sankarojha2281]

Dear Sir,
If there is disinvestment during the FY than what will be impacts on CFS
Thanks

[@CommerceSpecialist]

That will be taken care of in financing activities

[@aliyaal-sanadi953]

Dear Sir, I have a question
If the foreign subsidiary is controlled by parent company located in Oman and the time difference is one hour ,how the disclosure will be for local parent to prevent the parent from the incomplianc condition ?

[@CommerceSpecialist]

Dear ur question is not clear

[@aliyaal-sanadi953]

@CommerceSpecialist For example: abc co. is a subsidiary for def co.
abc Co. Located in Kuwait & def Co.is located in Oman.between them one hour difference.Def Co. in Oman has to dislosue before 10 am, however abc Co disclosing at 10 am ..but def has to wait till 2:00 pm to disclose..here abc in complianced with disclosure law but def Co. Failed to disclose in time and charges for incompliance..is there any solution for this kind of disclosure?

[@anilreddy9787]

Hai, A small doubt, FV on DOA should be 10 M (8M+2M) *25% NCI = 2.5M ( But question says it is 3M), It means we have good will for NCI Portion also ( That means on DOA, they revalued their assets ), So the good will for parent company should be 4.5M & 0.5M for Subsidiary, so we can show that good will separately in individual financial statements or we have to show M in Parent company ? if So, can you pleae explain logic.

[@gibsonchari6393]

It's not advisable to verify the FV on DOA for NCI with percentages when given the amounts - Just use the amounts given at the DOA, The percentages are for post acquisition NCI calculations only.

[@promisekalamba9261]

is it possible to have negative Goodwill?

[@CommerceSpecialist]

Yes dear

[@rohanfernandes920]

Superb

[@CommerceSpecialist]

Thx Rohan

[@sedrak2552]

Greetings from Armenia 🇦🇲

[@CommerceSpecialist]

Thanks dear🙏👍

[@shaileshcastelino6950]

Nice video Sir

[@CommerceSpecialist]

Thx dear

[@nisallaksara225]

thank youuu sir

[@CommerceSpecialist]

Ur welcome dear

[@SaeedKhan-zm3zr]

When u start CMA new batch

[@CommerceSpecialist]

25th june

[@thuwannasuha8591]

Thank you