The Suite of Consolidation Standards

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The Suite of Consolidation Standards

This course can be delivered to your organisation as part of our bespoke Corporate Training Solutions, at your own time and your own convenience. Contact us on kla@kpmg.com.mt or call us on +356 2563 6363 or on +356 9963 6363 for more information on how we can take care of your organisation’s training needs.

Course Description:

IFRS 10 provides a single ‘control’ model to be applied in the control analysis for all investees in considering which entities are consolidated in a parent’s consolidated financial statements. The consolidation suite of standards covers accounting for investments in subsidiaries, associates, joint ventures, joint operations as well as related disclosures. In this IFRS Suite session we shall be describing in detail the control model under IFRS 10 and the different levels of influence an entity may have over its investees (control, joint control or significant influence), how to account for subsidiaries, joint arrangements and associates in both the consolidated and separate financial statements, and discussing other consolidation issues which accountants are faced with (such as those faced by groups operating in a multiple functional currency environment).

The standards dealt with in this session are:

  • IFRS 10 Consolidated Financial Statements
  • IAS 27 Separate Financial Statements
  • IAS 28 Investments in Associates and Joint Ventures
  • IFRS 11 Joint Arrangements
  • IAS 21 The Effects of Changes in Foreign Exchange Rates

Target Audience:

The session is aimed for accounting professionals and financial controllers.

Learning Outcomes:

By the end of the session participants would be knowledgeable on what constitutes control over an investee and how to account for different types of investees (subsidiaries, joint arrangements and associates) in both the consolidated and separate financial statements.

Prerequisites:

Basic knowledge on financial reporting and consolidations is recommended.

Venue: Kindly contact us on kla@kpmg.com.mt to indicate your preferred training method; online or in-person.

CPE Hours: This course qualifies for 2 hours of Structured CPE which can be classified as Core Competency. A certificate of attendance will be provided at the end of each session.

Trainers:

Introduction by Jonathan Dingli, Partner, Head of Advisory, KPMG in Malta

Jonathan Dingli

Jonathan leads a team of professionals within the Corporate Accounting Advisory Services (CAAS) Team at KPMG in Malta. At KPMG, Jonathan has assisted various clients, both local and international with respect to IFRS advice and IFRS adoption. He was responsible for advising a multi-national group of over 150 subsidiaries in its adoption of IFRS and the preparation of the group’s first IFRS consolidated financial statements. Before returning to KPMG, Jonathan set up the Malta Institute of Accountants’ Technical Department which he led for seven years. During his term of office Jonathan wrote a number of technical pronouncements on the application of IFRS to specific local circumstances, was responsible for the drafting of GAPSE (an accounting standard for Maltese SMEs), and he also represented the Institute on local and international fora. Before joining the Institute, Jonathan also worked for a number of years with KPMG in Malta and in Dublin during which he was assigned on a number of audits of high level clients both locally and overseas. Jonathan was the editor of the MIA journal the Accountant for seven years. Jonathan has been specialising in IFRS since 2008; he has lectured on IFRS in various countries, ran various IFRS courses for KPMG and the Malta Institute of Accountants and has given presentations at various events and conferences. He lectures on advanced financial reporting in the Master in Accountancy post-graduate degree at the University of Malta.

Georges Xuereb, Director, Corporate Accounting Advisory Services, KPMG in Malta

Georges provides a wide range of Accounting Advisory services, including group consolidations and the preparation of consolidated financial statements under both GAPSME and IFRS, technical accounting advice on complex matters, development of Excel-based models (such as leasing, ECL impairment and consolidation tools), and outsourced corporate accounting and compliance services, such as preparation of management accounts and financial statements. His portfolio of clients is very diverse, including groups and companies operating in sectors such as manufacturing, logistics, aviation, cruise line business, gaming, diversified multinationals, construction, and financial services. Georges also lectures on the Financial Reporting (FR) and Strategic Business Reporting (SBR) ACCA modules to students as part of their studies in fulfilment of the ACCA qualification.

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Terms and conditions.

Course Features

  • Guided Learning 2 hours
  • Language English
  • Assessments
author avatar
Jonathan Dingli

Partner, Head of Advisory

Jonathan is Head of Advisory Services at KPMG Malta. He co-leads the Corporate Accounting Advisory Services (CAAS) practice and leads both the KPMG Learning Academy and the firm’s ESG Reporting service line in Malta. He has over 22 years of experience in the accountancy profession, complemented by 18 years of lecturing experience. Jonathan holds a Bachelor of Accountancy (Hons.) degree, awarded cum laude, from the University of Malta. He began his career within the audit function of KPMG before being appointed as the first Technical Officer of the Malta Institute of Accountants (MIA), later becoming its first Technical Director. In 2012, Jonathan re-joined KPMG to establish the Accounting Advisory team. In his role as an IFRS specialist, he has advised a wide range of local and international clients on complex financial reporting matters, supporting them in achieving compliance with International Financial Reporting Standards (IFRS). He subsequently assumed leadership of the firm’s training arm, the KPMG Learning Academy, and currently serves as KPMG Malta’s ESG Reporting Lead, assisting organisations in meeting the requirements of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). Jonathan completed his PhD studies in 2021 and lectures in advanced financial reporting to Master of Accountancy students at the University of Malta. He is an elected member of the Council of the Malta Institute of Accountants and currently serves as its President.

Director

Georges provides a wide range of Accounting Advisory services, including group consolidations and the preparation of consolidated financial statements under both GAPSME and IFRS, technical accounting advice on complex matters, development of Excel-based models (such as leasing, ECL impairment and consolidation tools), and outsourced corporate accounting and compliance services, such as preparation of management accounts and financial statements. His portfolio of clients is very diverse, including groups and companies operating in sectors such as manufacturing, logistics, aviation, cruise line business, gaming, diversified multinationals, construction, and financial services. Georges also lectures on the Financial Reporting (FR) and Strategic Business Reporting (SBR) ACCA modules to students as part of their studies in fulfilment of the ACCA qualification.

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