Principles of Group Accounting under IFRS E-Book

Andreas Krimpmann

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Serie: Wiley Regulatory Reporting
• Sprache: Englisch

Seitenzahl: 1511

Veröffentlichungsjahr: 2015

Beschreibung

A professional perspective to implementing IFRS 10, 11, and 12

The new International Financial Reporting Standards (IFRS) 10, 11, and 12 are changing group accounting for many businesses. As business becomes increasingly global, more and more firms will need to transition using the codes and techniques described in Principles of Group Accounting under IFRS. This book is a practical guide and reference to the standards related to consolidated financial statements, joint arrangements, and disclosure of interests. Fully illustrated with a step-by-step case study, Principles of Group Accounting under IFRS is equally valuable as an introductory text and as a reference for addressing specific issues that may arise in the process of consolidating group accounts.

The new international standards will bring about significant changes in group reporting, and it is essential for accountants, auditors, and business leaders to understand their implications. Author Andreas Krimpmann is an internationally recognized authority on the transition from GAAP to IFRS, and this new text comes packaged with GAAP/IFRS comparison resources that will help make the changes clear. Other bonus resources include an Excel-based consolidation tool, checklists, and a companion website with the latest information. Learn about:

• Definitions, requirements, processes, and transition techniques for IFRS 10, 11, and 12 covering group level accounting
• Practical implementation strategies demonstrated through a clear case study of a midsize group
• Key concepts related to consolidated financial statements, joint ventures, management consolidation, and disclosure of interests
• Comparisons between GAAP and IFRS to clarify the required changes for international firms

Whatever stage of the consolidation process you are in, you will appreciate the professional perspective in Principles of Group Accounting under IFRS.

Leseprobe

Table of Contents

Title Page

Copyright

Dedication

LIST OF FIGURES

LIST OF TABLES

PREFACE

INTRODUCTION TO THE BOOK

A: THE CASE STUDY

1. ABOUT THE GROUP

2. ALLOCATION OF EXAMPLES

B: LEGAL REQUIREMENTS FOR CONSOLIDATED FINANCIAL STATEMENTS

1. IFRS STANDARDS

2. EXEMPTIONS

3. LOCAL ACCOUNTING STANDARDS

4. TAXATION

5. DEFINITIONS

C: DEFINITION OF GROUPS

1. THE CONTROL CONCEPT

2. JOINT CONTROL

3. LOSS OF CONTROL

4. GROUP COMPOSITIONS

5. SPECIAL CASES

D: PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORTS

1. LIFECYCLE OF SUBSIDIARIES

2. STRUCTURES

3. THE PREPARATION PROCESS

4. ORGANIZATION

E: INITIAL CONSOLIDATION

1. BASICS

2. MERGERS AND ACQUISITIONS

3. PURCHASE PRICE ALLOCATION

4. OTHER ASPECTS OF PURCHASE PRICE ALLOCATIONS

5. CONSOLIDATION TECHNIQUES

6. SPECIAL CASES

F: SUBSEQUENT CONSOLIDATION

1. BASICS

2. SUBSIDIARY PREPARATION

3. EQUITY CONSOLIDATION

4. DEBT CONSOLIDATION

5. CONSOLIDATION OF INCOME AND EXPENSES

6. UNREALIZED PROFITS

7. NON-CONTROLLING INTERESTS

8. GROUP-LEVEL TRANSACTIONS

9. SPECIAL CASES

G: ASSOCIATED COMPANIES

1. BASICS

2. CONSOLIDATION TECHNIQUES

3. TREATMENT OF LOSSES

4. IMPAIRMENTS

5. SPECIAL CASES

H: JOINT ARRANGEMENTS

1. BASICS

2. ACCOUNTING AND CONSOLIDATION

3. DISPOSALS / DECONSOLIDATION

I: CHANGES IN CONTROL

1. BASICS

2. THE PARENT'S VIEW

3. INCREASE IN INVESTMENTS

4. DECREASE IN INVESTMENTS

5. ACQUISITIONS AND DISPOSALS WITHOUT CHANGES IN CONTROL

6. SPECIAL CASES

J: DISPOSALS AND DECONSOLIDATION

1. BASICS

2. CONTROL

3. DECONSOLIDATION TECHNIQUES

4. DISCONTINUED OPERATIONS

K: SPECIAL AREAS

1. CURRENCY TRANSLATION OF FOREIGN OPERATIONS

2. DEFERRED TAXES IN GROUPS

3. CASH FLOW STATEMENTS

4. PARTNERSHIPS

5. RESTRUCTURING OF GROUPS

L: MANAGEMENT CONSOLIDATION

1. BASICS

2. BUSINESS UNITS

3. PROJECTS AND COST UNITS

4. DEPENDENCY BETWEEN MANAGEMENT CONSOLIDATIONS AND CONSOLIDATED FINANCIAL STATEMENTS

M: CONSOLIDATED FINANCIAL STATEMENTS

1. THE BASICS

2. STATEMENTS

3. NOTES & GROUP DISCLOSURES

4. MANAGEMENT REPORT

FAIR VALUE MEASUREMENT

1. HISTORY

2. DEFINITION

3. MEASUREMENT

4. MEASUREMENT TECHNIQUES FOR SELECTED ASSETS AND LIABILITIES

IFRS – US-GAAP COMPARISON

IFRS

1. LIST OF IFRS

2. IFRIC AND SIC INTERPRETATIONS

GLOSSARY

REFERENCE LIST

INDEX

End User License Agreement

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Guide

Cover

Table of Contents

Preface

Begin Reading

List of Illustrations

Fig A.1

Fig A.2

Fig B.1

Fig B.2

Fig B.3

Fig B.4

Fig B.5

Fig C.1

Fig C.2

Fig C.3

Fig C.4

Fig D.1

Fig D.2

Fig D.3

Fig D.4

Fig D.5

Fig D.6

Fig D.7

Fig D.8

Fig D.9

Fig D.10

Fig E.1

Fig E.2

Fig E.3

Fig E.4

Fig E.5

Fig E.6

Fig E.7

Fig E.8

Fig E.9

Fig E.10

Fig E.11

Fig E.12

Fig E.13

Fig E.14

Fig E.15

Fig E.16

Fig E.17

Fig E.18

Fig E.19

Fig E.20

Fig E.21

Fig E.22

Fig E.23

Fig F.1

Fig F.2

Fig F.3

Fig F.4

Fig F.5

Fig F.6

Fig F.7

Fig F.8

Fig F.9

Fig F.10

Fig F.11

Fig F.12

Fig F.13

Fig F.14

Fig F.15

Fig F.16

Fig F.17

Fig F.18

Fig F.19

Fig F.20

Fig F.21

Fig F.22

Fig F.23

Fig F.24

Fig F.25

Fig F.26

Fig F.27

Fig F.28

Fig F.29

Fig F.30

Fig F.31

Fig F.32

Fig F.33

Fig F.34

Fig F.35

Fig F.36

Fig F.37

Fig F.38

Fig F.39

Fig F.40

Fig F.41

Fig F.42

Fig F.43

Fig F.44

Fig F.45

Fig F.46

Fig F.47

Fig F.48

Fig F.49

Fig F.50

Fig F.51

Fig G.1

Fig G.2

Fig G.3

Fig G.4

Fig G.5

Fig H.1

Fig H.2

Fig H.3

Fig I.1

Fig I.2

Fig I.3

Fig I.4

Fig I.5

Fig I.6

Fig I.7

Fig I.8

Fig I.9

Fig I.10

Fig J.1

Fig J.2

Fig J.3

Fig J.4

Fig J.5

Fig J.6

Fig J.7

Fig J.8

Fig J.9

Fig J.10

Fig K.1

Fig K.2

Fig K.3

Fig K.4

Fig K.5

Fig K.6

Fig K.7

Fig K.8

Fig K.9

Fig K.10

Fig K.11

Fig K.12

Fig K.13

Fig K.14

Fig K.15

Fig K.16

Fig K.17

Fig K.18

Fig K.19

Fig K.20

Fig K.21

Fig K.22

Fig K.23

Fig K.24

Fig K.25

Fig L.1

Fig L.2

Fig L.3

Fig L.4

Fig L.5

Fig L.6

Fig L.7

Fig L.8

Fig L.9

Fig L.10

Fig L.11

Fig L.12

Fig L.13

Fig L.14

Fig M.1

Fig M.2

Fig M.3

List of Tables

Table A.1

Table B.1

Table B.2

Table B.3

Table B.4

Table B.5

Table C.1

Table C.2

Table C.3

Table E.1

Table E.3

Table E.4

Table E.5

Table E.6

Table E.7

Table E.8

Table E.9

Table E.10

Table E.11

Table E.12

Table E.13

Table E.14

Table E.15

Table E.16

Table E.17

Table E.18

Table E.19

Table F.1

Table F.2

Table F.3

Table F.4

Table F.5

Table F.6

Table F.7

Table F.8

Table F.9

Table F.10

Table F.12

Table F.13

Table F.14

Table F.15

Table F.16

Table F.17

Table F.18

Table F.19

Table F.20

Table F.21

Table F.22

Table F.23

Table F.24

Table G.1

Table G.2

Table G.3

Table G.4

Table G.5

Table G.6

Table G.7

Table G.8

Table G.9

Table G.10

Table G.11

Table G.12

Table G.13

Table G.14

Table H.1

Table H.2

Table H.3

Table H.4

Table H.5

Table I.1

Table I.2

Table I.3

Table I.4

Table I.5

Table I.6

Table I.7

Table I.8

Table I.9

Table I.10

Table I.11

Table I.12

Table I.13

Table I.14

Table I.15

Table I.16

Table I.17

Table I.18

Table I.19

Table I.20

Table I.21

Table I.22

Table I.23

Table I.24

Table I.25

Table I.26

Table I.27

Table I.28

Table I.29

Table I.30

Table I.31

Table I.32

Table I.33

Table J.1

Table J.2

Table J.3

Table J.4

Table J.5

Table J.6

Table J.7

Table J.8

Table J.9

Table J.10

Table J.11

Table J.12

Table K.1

Table K.2

Table K.3

Table K.4

Table K.5

Table K.6

Table K.7

Table K.8

Table K.9

Table K.10

Table K.11

Table K.12

Table M.1

Table N.1

Table N.2

Table N.3

Principles of Group Accounting under IFRS

by Andreas Krimpmann

This edition first published 2015

© 2015 John Wiley & Sons, Ltd

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John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom

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Library of Congress Cataloging-in-Publication Data

Krimpmann, Andreas, 1963-

Principles of group accounting under IFRS / by Andreas Krimpmann.

pages cm

Includes bibliographical references and index.

ISBN 978-1-118-75141-1 (pbk.)

1. Accounting–Standards. 2. Financial statements, Consolidated. I. Title.

HF5626.K75 2015

657–dc23

2014046087

Cover Design & Image: Wiley

To my family

LIST OF FIGURES

Fig A.1

Business unit structure Flexing Cables

Fig A.2

Group legal structure Flexing Cables

Fig B.1

Overall transition procedure to apply IFRS 10

Fig B.2

Application options of IFRS 3 and IFRS 10

Fig B.3

Retrospective handling as a subsidiary based on a purchase price allocation and its subsequent accounting

Fig B.4

Retrospective handling as an associate based on a purchase price allocation and its subsequent accounting

Fig B.5

Retrospective handling as a financial investment based on fair value and its subsequent accounting

Fig C.1

Structure of rights and interests

Fig C.2

Workflow in determining joint control

Fig C.3

Dependency between types of investment and their control

Fig C.4

Typical example of a limited partnership structure

Fig D.1

Lifecycle of a subsidiary in a group

Fig D.2

Typical structure of an accounting corporate centre

Fig D.3

Environment of a shared service centre

Fig D.4

Example of an account structure of the split-account method