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Preparation of Group Financial Statements

HRD Corp Programme Number : 1000144449

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Consolidated Financial Statement covering MFRS 3, 10, 11, 12, 13, 128 and 136

Accounting for business combinations present considerable challenges for preparers of MFRS financial statements, particularly the changes in controlling and non-controlling interests, purchase price allocation and goodwill.  Since coming into force, MFRS 3 has been through several amendments, the latest being definition of a business which has come into effect from 1 January 2020.

Join us to gain a sound understanding of the requirements and methodology in the Preparation of Group Financial Statements which cover the MFRS 3,10,11,12, 13, 128 and 136, Accounting for acquisition and loss of control of interests in subsidiaries and associates, determination of the purchase price allocation (PPA), as well as goodwill and impairment test on goodwill under MFRS 136.

Preparation of Group Financial Statements training

Download Brochure and Registration form from Here

Training Date :
24th - 25th June 2024 (Hotel Armada Petaling Jaya, Selangor, Malaysia)
24th - 25th September 2024 (Hotel Armada Petaling Jaya, Selangor, Malaysia)

LEARNING OBJECTIVES

This Preparation of Group Financial Statements programme seeks to help you:

• Understand the requirements and application of MFRS 3 Business Combinations and related Standards

• Differentiate between the different levels of investments and identify the appropriate accounting treatment to apply

• Perform a PPA exercise and calculate goodwill by applying the rules in MFRS 3 Business Combinations and MFRS 13 Fair Value Measurement

• Evaluate the impact of contingent consideration and learn the recognition and measurement rules for contingent liabilities

• Perform an impairment test on goodwill based on MFRS 136

METHODOLOGY

PowerPoint and whiteboard presentation of relevant standards, illustrative examples in practice and explanation of the principles and methodology used.

WHO SHOULD ATTEND

• Group Financial Controllers and Accountants
• Finance Managers and Preparers of Financial Statements
• Professionals involved in M&A
• Audit Partners, Auditors

PROGRAMME OUTLINE

DAY 1

1. Introduction to Group Accounts

  • The Concept of Corporate Group and the Recognition Criterion of Control
  • The Requirements of the Companies Act 2016, MFRS 10, Consolidated Financial Statements and MFRS 127(revised), Separate Financial Statements

2. Acquisition Accounting MFRS 3

  • Definition of a business and a business combination
  • Determining whether a transaction is a business combination
  • Amendments to MFRS 3
  • Scope of exemptions
  • Identifying the acquirer
  • Determining the acquisition date and consideration transferred

3. Recognising and Measuring Identifiable Assets Acquired, Liabilities Assumed, and Non-Controlling Interests

  • Recognition and measurement principles
  • Measurement principle for assets and liabilities
  • Assets with uncertain cash flows (fair value adjustments) and assets that may not be used
  • Recognising and measuring the identifiable assets acquired, the liabilities assumed and any non -controlling interest in the acquiree
  • Choice in the measurement of non-controlling interests
  • Exceptions to the recognition and measurement principles

4. Recognising and Measuring Goodwill and Determining Purchase Price Allocation (PPA)

  • Determining what is part of the business combination transaction
  • Bargain purchases
  • Consideration transferred and PPA based on the fair value of assets acquired, MFRS 13
  • Testing goodwill for impairment

 

DAY 2

5. Business Combinations Achieved in Stages

  • Business combinations achieved by step acquisitions
  • Business combinations achieved without the transfer of consideration
  • Contingent consideration
  • Dealing with acquisition-related costs

6. Subsequent Measurement and Accounting

  • Pre-existing relationships and reacquired rights
  • Contingent liabilities and contingent payment to employees
  • Summary of the Disclosure Requirements
  • Disclosure of information about current business combinations
  • Disclosure of information about adjustments of past business combinations

7. Consolidated Financial Statements: MFRS 10

  • Determining control
  • Accounting for changes in ownership interests
  • Disclosure of interests in other entities: MFRS 12

8. Joint Arrangements: MFRS 11

9. Investments in Associates and Joint Ventures: MFRS 128

  • Acquisition and loss of significant influence
  • Applying the equity method
  • Impairment testing: MFRS 136

Download the course content in pdf format from HERE

FACILITATOR

Dr Ooi Chee Keong
CA(M), CFP
PSMB Train-The-Trainer certificate no: TTT/18839

 

Dr Ooi Chee Keong is a Pembangunan Sumber Manusia Berhad (PSMB) Certified Trainer and a Senior Lecturer from School of Accounting and Finance, Faculty of Business and Law, Taylor’s University. He is also a Chartered Accountant of the Malaysian Institute of Accountants  (MIA) since 2002.

Chee Keong has had a long and distinguished career as a Chartered Accountant in a number of well-known Malaysian and International Companies. He started his career in Accounting as an Auditor in a medium firm in 1999. In 2002, he joined Road Builder (M) Snd Bhd as an Assistant Accountant, attached with the International Division. In 2011, he raised to Chief Financial Officer (CFO) position with TNB Energy Services Sdn Bhd (a wholly owned subsidiary of Tenaga Nasional Berhad).

He has more than fifteen years of hand-on experience in difference areas of management and functions in diverse industries such as auditing, construction, engineering, manufacturing, trading and utilities. Other than finance, auditing, taxation, corporate finance and credit control, he also involved in business development, business strategic planning, budgeting and cost management with some public listed companies. In 2014, he completed his Doctor of Philosophy (Phd) degree and was offered Assistant Professor position with Universiti Tunku Abdul Rahman.

Chee Keong areas of specialization are Financial Accounting, Consolidated Financial Statements, Corporate Governance, Accounting Quality, Earnings Management and Earnings Quality.

Click Here to Download Dr. Ooi Chee Keong Profile

Course Fees & Registration
FEE PAYABLE PER PARTICIPANT :

Normal Price                                          : RM2,288

Early Bird (15 days before event)       : RM2,089

Group Fee (>2 participants)                : RM1,888

Fee includes course materials, lunch, 2 tea breaks per day and Certificate of Attendance (upon completion of the training).

Download Registration Form from HERE and sent it to us by

Email : sales@wanfahprosper.com

WhatsApp : +60162634929

CANCELLATION / TRANSFER

Upon registering, participant(s) are considered successfully enrolled in the event.  Written cancellations / transfer notice (substitution or to later dates) received :

  • More than ten (10) working days before the event, a refund (less administrative charge of 15%) will be made.
  • Ten (10) working days or less before the event, no refund will be made.
  • For no show on the day of the event, full payment is required. If you cannot attend the event, you can nominate a substitute at any time without payment of an administration fee.
  • A full (100%) refund may be granted if the course is cancelled by Wanfah Prosper PLT (WFP). WFP reserves the right to postpone or cancel the event and / or change facilitator at any time should circumstances beyond its control arises. WFP also reserve the right to make alternative arrangements without prior notice should it be necessary to do so.

Payment

Please make cheque payable / direct credit to :WANFAH PROSPER PLT

Accounts Number : 3812930508

Bank : Public Islamic Bank Berhad

DATA PROTECTION

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