Consolidated Financial Statements (3 cr)

Evaluation scale

0-5

Objective

The object of the course
You will learn the significance of a group in business operations and the key principles of a group’s operations. After completing this course, you will be able to find the information necessary for preparing consolidated financial statements and combine consolidated financial statements from the separate financial statements of the companies included in the group.

Course competences
Business competence

The learning objectives of the course
After completing the course, you will be able to prepare the consolidated financial statements of a small group of companies under guidance.

Content

The course contents cover group relationship, legislation pertaining to a group of companies, preparation of consolidated financial statements: elimination of internal transactions, elimination of mutual shareholding and separation of a minority interest.

Assessment criteria, satisfactory (1)

Adequate 1
You recognise a group relationship and understand that it has an impact on consolidated financial statements. You are able to assist in the preparation of consolidated financial statements under guidance.

Sufficient 2
You perceive the existence of a group relationship and know its impact on consolidated financial statements. You possess the knowledge and skills needed for the preparation of consolidated financial statements and are able to assist in the preparation of consolidated financial statements. You recognise development needs in your own competence. You are able to follow the schedule.

Assessment criteria, good (3)

Good 3
You master the main elements of the knowledge needed for the preparation of consolidated financial statements and are able to prepare the consolidated financial statements of a small company under guidance. You recognise the existence of a group relationship and know that it has impact on consolidated financial statements. You recognise development needs in your own competence. You are able to follow the schedule.

Very Good 4
You master the principal knowledge and skills needed for the preparation of consolidated financial statements and are able to prepare the consolidated financial statements of a small company almost independently. You perceive the main significance of a group relationship and know that it has impact on consolidated financial statements. You are able to follow the schedule.

Assessment criteria, excellent (5)

Excellent 5
You are aware of the significance of a group relationship and understand its impact on consolidated financial statements. You master the knowledge and skills needed for the preparation of consolidated financial statements and are able to prepare the consolidated financial statements of a small company independently and consistently. You can guide others’ work. You are able to follow the schedule.

Qualifications

Accounting of companies in different business sectors, preparation of the financial statements of an SME, recording of financing, amortisation and distribution of profit.

Further information

Avoin amk 5
EduFutura 5