IFRS
Articles covering consolidation and reporting requirements under IFRS, including practical applications and differences from other standards.
AASB 127 Separate Financial Statements: A Practical Guide for Australian Holding Companies
Marcus had been running the books for Apex Holdings Pty Ltd for three years. The holding company had acquired its…
AASB 121 Foreign Currency Translation: A Practical Guide for Australian Multi-Entity Groups
When the auditors reviewed the consolidated accounts of an Australian technology services group, they raised a flag on the New…
AASB 3 Business Combinations: A Practical Guide for Australian Multi-Entity Groups
When Sophie’s Melbourne-based consulting group acquired a smaller competitor for $2.8 million, the deal took six months of negotiation and…
AASB 10 Consolidated Financial Statements: A Practical Guide for Australian Multi-Entity Groups
James had run his family group for fifteen years. What started as a single operations company had grown into six…
IAS 36 Goodwill Impairment Testing: A Practical Guide for IFRS Multi-Entity Groups
When a UK-based manufacturing group acquired a German competitor in 2019, the purchase price allocation under IFRS 3 left €14…
How to Consolidate an IFRS Subsidiary into a UK GAAP (FRS 102) Parent: Journals, Fiscal Periods, and Currency Translation
UK groups that have grown through acquisition — particularly those with European or international subsidiaries — often find themselves in…
IAS 21 Foreign Currency Translation: The IFRS Guide for Multi-Entity Groups
The group’s year-end accounts showed a consolidated loss in other comprehensive income of £2.3 million that nobody in the audit…
IFRS 16 Leases in Group Consolidation: What Multi-Entity Groups Need to Know
When the group finance director sat down to prepare the first IFRS 16 consolidated accounts, she had expected the hardest…
Goodwill Impairment Under US GAAP: How ASC 350 Works and What It Means for Multi-Entity Groups
Goodwill impairment testing under US GAAP is governed by ASC 350-20 — a framework that differs from the IFRS approach…
IFRS 10 Consolidated Financial Statements: A Practical Guide for Multi-Entity Groups
When a business owns shares in another company, the first question an accountant must answer is not how to record…