This book is a comprehensive guide to the preparation of consolidated financial statements in Singapore. It discusses consolidation financial statements in the context of the Singapore statute and the Financial Reporting Standards (FRS) issued by the Accounting Standards Council effective 1 January 2014.
In this third edition, the book has been revised to incorporate the new requirements of five new/revised FRS, namely:
- FRS 27 Separate Financial Statements
- FRS 28 Investments in Associates and Joint Ventures
- FRS 110 Consolidated Financial Statements
- FRS 111 Joint Arrangements
- FRS 112 Disclosures of Interests in Other Entities
This book is written based on many years of teaching, research and practical experience. Presented in a step-by-step, easy-to-understand style, it is an invaluable source of reference to both accounting practitioners and students in Singapore. The topics covered include:
- Merger accounting
- Consolidated balance sheets (also referred to as Consolidated statement of financial position), consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows
- Investment in joint ventures
- Consolidation theory
- Acquisition and disposal during the accounting year
- Changes in shareholding interests
- Investment in associates
- Complex group structure
- Foreign subsidiaries, associates and joint ventures
