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, Corporate Accounting Advisory Services, 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, Associate Director, Corporate Accounting Advisory Services, KPMG in Malta

Georges provides IFRS and GAPSME advice and delivers accounting topic papers to his clients on complex technical accounting matters. He also assists clients in the preparation of separate and consolidated financial statements in accordance with IFRS or GAPSME, including groups operating in sectors such as manufacturing, logistics, gaming, international business, construction, and financial services. His area of focus in these diverse industries includes IFRS consolidations and implementation of recently issued IFRSs such as IFRS 16 Leases, IFRS 15 Revenue from Contracts with Customers, and IFRS 9 Financial Instruments for non-financial institutions. Georges also implements Excel-based consolidation tools to large groups to improve their consolidation reporting process, with a focus on quality and complex accounting requirements and reducing reporting timeframes. He has also developed an IFRS 16 Leases tool to assist clients in transitioning to the new leases standard, with focus on automation and timely reporting. Georges delivers technical training and presentations on IFRS matters both internally to his colleagues and to his clients, and delivers lectures on the Financial Reporting and Strategic Business Reporting 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

Jonathan Dingli

Partner

A Partner within the Advisory function, Jonathan leads both the Corporate Accounting Advisory Services team and the Learning Academy at KPMG in Malta. He has over 20 years of experience in the accountancy profession and over 14 years teaching experience. After obtaining his Bachelor of Accountancy Hons. degree (First Class honours) from the University of Malta, Jonathan joined the audit function of KPMG. Several years later he became the first technical officer of the Malta Institute of Accountants and eventually its first Technical Director. In 2012 he set up KPMG’s Accounting Advisory Team which he still leads. In his current role as IFRS specialist Jonathan assists and provides advice to many local and international clients on financial reporting matters to ensure they comply with the most complex requirements of IFRS. More recently, he took the lead of the firm’s training arm, the KPMG Learning Academy. He is responsible for the strategic direction of the academy and is also involved in the delivery of several financial reporting courses under the IFRS learning suites umbrella. He completed his PhD studies in 2021. He lectures on advanced financial reporting at the University of Malta is an elected member of the Council of the MIA.

Georges Xuereb

Associate Director

Georges provides IFRS and GAPSME advice and delivers accounting topic papers to his clients on complex technical accounting matters. He also assists clients in the preparation of separate and consolidated financial statements in accordance with IFRS or GAPSME, including groups operating in sectors such as manufacturing, logistics, gaming, international business, construction, and financial services. His area of focus in these diverse industries includes IFRS consolidations and the implementation of recently issued IFRSs. Georges also implements Excel-based consolidation tools to large groups to improve their consolidation reporting process, with a focus on quality and complex accounting requirements and reducing reporting timeframes. He has also developed an IFRS 16 Leases tool to assist clients in transitioning to the new leases standard, with focus on automation and timely reporting. Georges delivers technical training and presentations on IFRS matters both internally to his colleagues and to his clients, and delivered lectures on the Financial Reporting and Strategic Business Reporting modules to students as part of their studies in fulfilment of the ACCA qualification.