Consolidated Financial Statements (Singapore) is a comprehensive guide to the preparation of consolidated financial statements in Singapore. It discusses consolidated financial statements in the context of the Singapore statutes and the Financial Reporting Standards (FRS) issued by the Accounting Standards Council that are effective as at 1 July 2009. In this second edition, the book has been updated for the new requirements of two new FRS, namely FRS 27 (2009) Consolidated and Separate Financial Statements and FRS 103 (2009) Business Combinations. The chapter arrangement in this second edition is the same as that in the first edition, except for the inclusion of the sections on Joint Ventures in Chapters 6 and 7.
This book is written based on many years of teaching, research and practical experience. It adopts a professional approach and is presented in a step-by-step, easy-to-understand style. It contains more than 80 illustrative examples and numerous problems for self-study.
Topics Covered:
- Consolidated balance sheets (also referred to as consolidated statements of financial position), consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows
- Changes in shareholding interests
- Complex group structure
- Investment in associates
- Investment in joint ventures
- Foreign subsidiaries, associates and joint ventures
- Consolidation theory
- Merger accounting