FRS 102
Disposal of a Subsidiary in Group Consolidation: How to Calculate the Gain, Derecognise the Net Assets, and Remove NCI
When a parent loses control of a subsidiary — whether through a full sale, a partial sale that drops below…
Deferred Tax in Group Consolidation: How Consolidation Adjustments Create Tax Differences
The consolidated deferred tax position is not the sum of the entities’ individual deferred tax balances. Group consolidation introduces adjustments…
How to Consolidate a UK GAAP (FRS 102) Subsidiary into an SFRS Parent: Two Very Different Conversion Paths
Singapore holding companies that own UK operating businesses face a consolidation question that looks deceptively straightforward: how different is FRS…
NCI at Acquisition: How to Calculate Non-Controlling Interest on the Date of Purchase
When HoldCo acquires 75% of SubCo, it controls SubCo from the acquisition date and must consolidate SubCo’s full balance sheet…
How to Consolidate a UK GAAP (FRS 102) Subsidiary into an IFRS Parent: Lease Recognition, Goodwill Reversal, and GBP Translation
European and international IFRS groups that have acquired UK businesses face a consolidation path that is often underestimated in its…
How to Consolidate a US GAAP Subsidiary into a UK GAAP (FRS 102) Parent: Four Conversion Journals and USD to GBP Translation
For UK FRS 102 groups that have acquired US businesses, the consolidation adjustment list is longer than for any other…
How to Handle Prior-Period Adjustments in Consolidated Financial Statements
Niamh was three weeks into the Year 5 audit when the message arrived from Castleton Products, the group’s 80%-owned manufacturing…
Intercompany Loan Eliminations: A Practical Guide to the Complications That Matter
The basic elimination of an intercompany loan is simple enough: the loan receivable in the parent’s accounts and the loan…
When Your Construction Subsidiary Reports Under FRS 102: Aligning Accounting Policies Before You Consolidate
The group financial controller at a mid-sized UK construction holding company had always managed the consolidation without much difficulty. The…
Intercompany Eliminations When There Is a Non-Controlling Interest: Upstream, Downstream, and Lateral Sales
When every subsidiary in a group is wholly owned, intercompany eliminations are mechanically straightforward: the full profit on any intragroup…