Groups Account: Steps to consolidation and notes to Consolidated statement of financial position

This video shows how to prepare a group statement of financial position and steps to consolidate generally.

To consolidate the account of the parent company and the subsidiary statement of financial position, statement of profit or loss and other comprehensive income and cash flow statement. We have to follow some specific steps to achieve this.

This video shows the basic steps to consolidation in line with the provision of IFRS10-Consolidated financial statements.

The video also explains the key workings in the preparation of the consolidated statement of financial position for examination purposes.
It explains how to determine the following:
Group structure
Net assets of a subsidiary
Goodwill
The non-controlling interest
Group retained earnings.

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