Consolidated financial statements
Context and rationale
Keeping accounts is on the one hand a "thermometer" for entrepreneurs, showing them the financial situation of their business, and on the other hand it serves another purpose, which is to inform third parties (suppliers, bankers, clients, the tax authorities, etc.).
Any company with its registered office or main activity in one of the OHADA member states that exclusively or jointly controls one or more entities must each year prepare and publish the consolidated financial statements of the group formed by all these entities, together with a management report on that group.
This course will enable you to master the regulatory provisions on consolidation, define the scope of consolidation and prepare consolidated financial statements.
Training objectives
- Mastering the regulations and mechanisms of consolidation.
- Knowing the techniques for consolidating accounts.
- Carrying out the preparatory work for consolidating accounts.
- Carrying out the consolidation of the group's entities.
- Presenting consolidated financial statements under SYSCOHADA.
Training content
Fundamental elements
- The company in its environment.
- The concept of a group and its consequences.
- Consolidating accounts: what is it about?
- Uses and limitations of consolidated accounts.
Regulatory provisions on consolidation
- Obligation to prepare consolidated accounts.
- Exemptions.
- Accounting assumptions and conventions for consolidation.
- Auditing consolidated accounts.
Scope of consolidation
- Composition of the group to be consolidated.
- Consolidating entity.
- Exclusion from the scope of consolidation.
- Percentage of control and interest.
- The different types of control.
- Circular shareholdings.
- Control of a special purpose entity.
Implementing consolidation methods
- Full consolidation.
- Proportional consolidation.
- Equity method.
Intra-group restatements and eliminations
- Restatement operations.
- Eliminating reciprocal accounts and intra-group results.
- Treatment of deferred taxes.
- Currency translation of accounts.
Preparing consolidated financial statements (practical work)
- Composition of consolidated financial statements.
- Presenting financial statements under SYSCOHADA.
- Preparing financial statements based on case studies.
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