Learn about the preparation of a consolidated statement of cash flows in accordance with IFRS or US GAAP. The statement should reflect only the cash movements of the group and eliminate any intragroup transactions. Transactions with unconsolidated subsidiaries, non-controlling interests, associates, and joint ventures are not eliminated.
Foreign-subsidiaries
Mastering the art of consolidated financial statements
- Understand the translation of foreign subsidiary financials for consolidated statements. Follow IAS 21 (IFRS) & ASC 830 for guidance.