consolidation fundamentals
Management Consolidation vs. Statutory Consolidation: Why They’re Different and Which One Your Group Needs
At a recent board meeting, a director of a four-entity Australian property group asked the CFO whether the consolidated accounts…
The Five Accounts That Only Exist in Your Consolidated Financial Statements
Tom has just been appointed CFO of an Australian professional services group with four entities. He’s a strong finance leader…
Accounting Policy Alignment Before Consolidation: What to Standardise and How to Document It
A consolidated group is required to prepare its financial statements using uniform accounting policies. IFRS 10 paragraph B87 states this…
Intercompany Management Fee Eliminations: How to Remove Intragroup Charges From Consolidated Accounts
Management fees are one of the most common intragroup transactions in any multi-entity group — and one of the most…
What Is a Subsidiary? How Groups Determine Control Under IFRS 10, FRS 102, and ASC 810
Before a group can begin consolidating, it must know which entities to consolidate. This sounds like a straightforward question —…
Intercompany Revenue Eliminations: How to Remove Intragroup Sales From the Consolidated P&L
It was the first time Omar had run the group consolidation on his own. He pulled the trial balances from…
Why Knowing the Consolidation Standards Is Not Enough to Get a Consistent Close
Elena had been the group controller at an eight-entity manufacturing group for six years. She knew the consolidation standards thoroughly…