This is an advanced level financial accounting course. Topics covered will include business combinations and impairment of goodwill, the basic consolidation process with variety of intercompany transactions and associate reporting. Emphasis will be placed on the application of International Financial Reporting Standards.

CILO-1: Discuss the accounting for Business Combinations under IFRS. CILO-2: Identify the controlled entities for consolidation purpose. CILO-3: Illustrate the accounting procedure for consolidation of wholly owned subsidiaries (investor co. and investee co.). CILO-4: Explain the consolidation procedure for intragroup transactions. CILO-5: Identify the consolidation procedures for non-controlling interest. CILO-6: Discuss other consolidation issues. CILO-7: Compare the accounting for Associates companies and joint ventures. CILO-8: Explain the accounting for transaction of the financial statements of foreign entities.