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Preparing consolidated financial statements under US GAAP & IFRS

  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM

This Course is Also Available in Self Study (On-Demand)

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

Consolidated financial statements are prepared by using uniform accounting policies for like transactions and events in similar circumstances for all of the entities in a group. These are the significant differences between U.S. GAAP and IFRS with respect to consolidations.

In general, the consolidation of financial statements requires a company to integrate and combine all of its financial accounting functions together in order to create consolidated financial statements that show results in the standard balance sheet, income statement, and cash flow statement reporting. 

This online CPE webinar covers the following key topics:

  • A step-by-step explanation of the consolidation process
  • Consolidation process in case of a Subsidiary's acquisition transaction
  • Recognition of goodwill or the bargain purchase gain, 
  • Technical aspects of consolidating the financial position, and profit & loss statement including elimination conditions and the recognition of Non-controlling Interest (NCI).

This continuing education course depends on a case study that simplifies the theory behind the following standards: - ASC 805 Business Combinations, ASC 810 Consolidation, IFRS 3 Business Combination, and IFRS 10 Consolidated Financial Statements.

Learning Objectives

  • To identify the subsidiary's acquisition transaction, subsidiary's net assets fair value.
  • To recognize the purchase consideration, goodwill, and the gain from a bargain purchase.
  • To explore the technical aspects of consolidating the financial statements of a subsidiary entity, including the elimination conditions and non-controlling interest recognition.

Recommended For

This online CPE webinar is recommended for CPA and other accounting professionals who are involved in preparation of Financial Statements under US GAAP and IFRS.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Management Accountant
  • Certified Valuation Analysts
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Director of Financial Reporting
  • Senior Accountant
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1.5 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 1.5 PL Credit for Chartered Financial Analyst (CFA)
  • 1.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 1.5 CPE Credit for Internal Audit Practitioner (IAP)
  • 1.5 CPE Credit for Certified Internal Auditors (CIA)
  • 1.5 CPE Credit of Accounting for Certified Management Accountants (CMA)
  • 1.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 1.5 CPE Credit of Accounting for Certified Valuation Analyst (CVA)

Presenter

About Presenter

Moataz Shokry, CPA (US)

Chief Financial Officer 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

4.2

26 Ratings

Excellent

10

Very Good

9

Average

5

Poor

2

Terrible

0

JP

Jennifer Pauli, CPA (US)

Dec 13th, 2021

Good information

KW

Kacie Wears, CPA (US)

Nov 15th, 2021

extremely difficult to listen to. I felt like I was listening to a robot. There were no personal stories shared, interaction with the attendees, just reading straight from a slide. The presenter was definitely knowledgeable and knew what he was talking about, but it was miserably boring to listen to. And he went several minutes longer than expected. I have meetings right afterwards and cannot be stuck on these webinars for the last few minutes of rambling just so I can get the credit

Preparing consolidated financial statements under US GAAP & IFRS

$15

1.5 Credits

Subject Area

Accounting

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