Prepare a consolidated statement of financial position for a group (parent and one subsidiaries), and adjust for different chart of accounts and the effects of intragroup trading and foreign currency transactions.
Key Modules Covered in the Course
Manipulate and consolidate data with Power Query
Install and attach the Power Query add-in
Reshape and unpivot data for Power Pivot analysis
Send Power Query results to the data model
Consolidate multiple excel work sheets within a single file
Automate the consolidation of all text files within a folder
Write a function to manipulate and consolidate Excel work books within a folder
Account for the effects of intragroup transaction
Adjust for current accounts between parent company and subsidiaries
Deal with cash/goods in transit
Deal with inter-group loans held by one company
Deal with Dividends and loan interest
Adjust for unrealised profits on sales of inventory
Adjust for unrealised profits on sales of non-current assets
Consolidate foreign subsidiaries
Deal with foreign currency transactions
Understand difference of foreign currency monetary items and non-monetary items
Compare spot rates with current rates and make appropriate adjustments
Learn to use current rate method
Learn to use temporal method
Deal with Translation gains or losses
Adjust for Transactions gains or losses
Incorporate foreign companies (subsidiaries) into the consolidated financial statements
Prepare consolidated financial statements
Deal with different chart accounts between head office and subsidiaries
Deal with non-controlling interests (at fair value or proportionate share of net assets)
Apply the required accounting treatment of consolidated goodwill
Adjust for impairment of goodwill
Deal with consolidation of other reserves (e.g. share premium and revaluation)
Account for the consolidation of other reserves
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