At-acquisition and post-acquisition consolidating journal entries

Video Overview

Many large businesses consist of numerous companies controlled by one central entity, called the holding or parent company. The collective name for these companies is a group, consisting of the parent company and one or more subsidiary companies. Within the group, each company will prepare its own individual financial statements, as well as a combined set of financial statements, called the consolidated financial statements. When drawing up the consolidated financial statements certain at-acquisition and post-acquisition journal entries are required in order to combine the separate financial statements of each company within the group. IAS27 governs the preparation of consolidated financial statements.  For simplicity sake we will only cover a group that consists of the holding company and one subsidiary company. In this tutorial we will learn about the at-acquisition and post-acquisition journal entries.

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