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Consolidating Foreign Subsidiaries

  • Accountant
  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

The world is becoming more interconnected due to non-stop advances in communication and transportation technologies, facilitating cross-border investment and equity capital flows.

The concept of foreign direct investment (FDI), which is defined as an investment in controlling ownership in a business in one country by an entity based in another country, becomes a cornerstone in today's global economic system.

Accordingly, the number of businesses that have operations in multiple countries has increased significantly, and the fair presentation of foreign subsidiaries' financial statements to the parent entity's stakeholders is needed.

The main obstacle facing consolidating a foreign subsidiary's financial statements is that the subsidiary's financial statements are presented in a different currency from their parent's presentation currency.

This online Accounting CPE webinar for CPAs course explains and illustrates the following:

  • Accounting processes for translating foreign subsidiaries' financial statements step-by-step, 
  • Consolidation criteria
  • Types of financial statements currencies
  • Proper accounting treatment for the resulting translation gain/(loss)
  • The currencies of hyperinflationary economies

This online continuing education course uses practical cases and examples that simplify the theory behind US GAAP standard ASC Subtopic 830-30 "Translation of financial statements" and IFRS standard IAS 21 "The Effects of Changes in Foreign Exchange Rates," highlighting the main differences between them.

Learning Objectives

  • To identify consolidation criteria.
  • To examine the process of translating subsidiaries' foreign currencies.
  • To study the accounting processes for translating the currencies of hyperinflationary economies.
  • To recognize the differences between US GAAP and IFRS in consolidating foreign subsidiaries.

Recommended For

This online CPE course will be very helpful for CPAs, CMAs, CVAs, ABV, CFAs Accounting practitioners & their staff performing and managing compilation, preparation, and review engagement services.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Bookkeepers & Accountants & Tax Preparers
  • CEO
  • Certified Management Accountant (CMA)
  • Certified Valuation Analysts
  • CFO/Controller
  • Chief Accounting Officer
  • Compliance Managers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Director of Accounting
  • Director of Financial Reporting
  • Finanical Analyst
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1.5 PL Credit for Chartered Financial Analyst (CFA)
  • 1.5 CPE Credit for Certified Valuation Analyst (CVA)
  • 1.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 1.5 CPE Credit for Certified Management Accountants (CMA)
  • 1.5 CPD Credit for Accredited in Business Valuation (ABV)
  • 1.5 CPE Credit for Certified Internal Auditors (CIA)
  • 1.5 CPE Credit for Internal Audit Practitioner (IAP)
  • 1.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 1.5 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1.5 CPD Credit for Certified Financial Forensics (CFF)
  • 1.5 CPE Credit for Certified Fraud Examiner (CFE)
  • 1.5 CPE Credit for Certified Government Financial Manager (CGFM)
  • 1.5 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 1.5 CRE Credit for Certified Corporate FP&A Professional (FPAC)
  • 1.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1.5 CE Credit for Certified Wealth Strategist (CWS)
  • 1.5 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    1.5
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Moataz Shokry, CPA (US)

Certified Public Accountant (CPA), Massaleh Investment Co.

Moataz has over 15 years of accounting, budgeting, auditing, consolidated financials, IFRS, US GAAP, and other aspects of the financial field.

Moataz began his career as an external auditor for a member firm of an international association providing audit & assurance services worldwide, working with various clients in the education, investment, automotive, constrictions, oil, and manufacturing sectors in the State of Kuwait.

Since 2013, Moataz has held executive positions in Kuwaiti stockbrokers' companies and investment groups.

Moataz gained his experience from solving day-to-day work problems, helping entities implement proper accounting systems; thus, he can support the theoretical topics with practical cases, allowing the audience to realize the maximum benefit from attending his courses.

Moataz holds a bachelor's degree in Accounting from Alexandria University, Egypt, certified in IFRS from the Association of Chartered Certified Accountants, London, UK. Also, he is a Certified Public Accountant (CPA) licensed in North Dakota, USA.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4

6 Ratings

Excellent

2

Very Good

2

Average

2

Poor

0

Terrible

0

AWW

Amy Wolfe Wolfe, CPA (US)

Dec 7th, 2021

I thought the beginning focus on determining functional currency went on a little long. I was looking for the last part of the presentation, so the earlier parts were repitition from CPA exam studying. I was looking for refresher/examples, etc. on the actual consolidation and entries. Other people may have needed more focus on determining the functional currency.

Consolidating Foreign Subsidiaries CPE Course

$15

1.5 Credits

Subject Area

Accounting

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