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Chapter 17

Consolidated statement of financial

position

Outcome

By the end of this session you should be able to:

 prepare a consolidated statement of financial position for a simple group (parent
and one subsidiary) dealing with pre- and post-acquisition profits, non-controling
interests and consolidated goodwill

 explain and account for other reserves

 account for the effects of intra-group trading

 account for the effects of fair value adjustments to:

– non-current assets

– inventory

– monetary liabilities

– assets and liabilities not included in the subsidiary’s own statement of
financial position

 account for goodwill impairment

 describe and apply the required accounting treatment of consolidated goodwill

and answer questions relating to these areas.

The underpinning detail for this Chapter in your Notes can be found in
Chapter 17 of your Study Text

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