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IFRS Consolidation. Key aspects. 

This course is delievered in Polish and can also be organized as a closed session (closed formula) at individual request of your organization. If you are interested in this programme, please contact the course co-ordinator - Aleksandra Trych (

  • For whom?
  • Objectives and advantages
  • Programme
  • Date and location
  • Tutors
  • Contact
  • Educational points/units

For whom? 

The course is designed for:

  • People preparing consolidated financial statements or group reporting packages which are input into such financial statements.
  • Chief accountants, financial controllers, finance directors responsible for the control and analysis of consolidated financial statements. 

Objectives and advantages

  • To enable the participants to gain both basic consolidation skills and to understand more complicated issues relating to complex consolidation.
  • To illustrate, with the use of numerical examples, the issues causing most difficulty in preparing consolidated accounts.
  • To update participants on business combinations and consolidations based on revised IFSRs 3 and 27.
  • To inform participants about recently issued standards: IFRS 10, IFRS 11, IFRS 12, which apply from 1 January 2013. 


Basic level
Basic issues related to consolidation
  • Definitions of subsidiaries, associates, jointly controlled entities, exercising control, joint control, exercising significant influence and other definitions related to the consolidation of companies
  • Methods of recognizing investments in the separate financial statements and their impact on the consolidated financial statements
Consolidated statement of financial position and statement of comprehensive income
  • Step-by-step overview of the principles of preparing a consolidated statement of financial position
  • Goodwill and "profit on a bargain purchase"
  • Recognition of non-controlling interests in the statement of financial position
  • Consolidation adjustments concerning, inter alia, the elimination of:
    • capital and investments,
    • mutual settlements (trade, loans, etc.)
    • unrealized gains on intra-group transactions involving transfers of inventories and fixed assets (including the effect on depreciation), dividends
  • Step-by-step discussion of the principles of preparation of the consolidated statement of comprehensive income by means of examples
  • Elimination from the point of view of the statement of comprehensive income of intra-group transactions (sales, cost price)
  • Effect of the transaction on the value of non-controlling interests
Intermediate level
Equity method
  • Principles of recognizing associates in the separate and consolidated statements
  • Discussion, based on the example of recognizing an investment with the equity method in the statement of financial position and in the statement of comprehensive income
Joint contractual arrangements
  • Factors influencing the classification of joint ventures: legal form, contractual provisions and other facts and circumstances
  • Accounting for joint operations and joint ventures
Business combinations
  • Principles of valuation of assets, liabilities and contingent liabilities at fair value
  • Effect of the valuation at the acquisition date
  • Adjustments to fair value in subsequent years
  • Deferred payment and contingent payment
Disclosure of information regarding participation in other entities
  • Purpose and scope of disclosures
  • Disclosures required for material involvement in subsidiaries, associates and joint arrangements
  • Other Disclosures
Effects of changes in foreign exchange rates and consolidation of subsidiaries operating abroad
  • Concepts of functional currency and presentation currency
  • Criteria taken into account in determining the functional currency
  • Accounting for transactions in a foreign currency at the date of creation, settlement and at the end of the reporting period
  • Treatment of exchange rate differences
  • Recalculation of the financial result as well as the property and financial situation of foreign subsidiaries included in the consolidated financial statements
  • Policy on adopted exchange rates for assets, liabilities, capital, revenues and costs
  • Recognition of exchange differences in the consolidated financial statements: group share and non-controlling interest
  • Exclusions of balances and transactions with a foreign entity
  • Conversion of goodwill
Advanced level
Consolidated cash flow statement
  • Discussion of issues related to the preparation of a consolidated cash flow statement such as investments in associates, dividends paid to non-controlling shareholders and the purchase or sale of a subsidiary during the year
  • Preparation of the consolidated cash flow statement using the indirect method based on data from the consolidated statement of financial position, statement of comprehensive income and additional information
Advanced techniques to consolidate financial statements
  • The impact of phased control on the calculation of goodwill
  • Settlement of total or partial disposal of subsidiaries: method of calculating the consolidated profit on disposal; recognition in the financial statements of a disposal resulting in a decrease in the shareholding while maintaining control, an associate or a financial instrument
  • Consolidation of capital groups in which control is exercised indirectly - vertical or mixed capital groups
  • A multi-stage acquisition in accordance with IFRS 10
  • Acquisition and loss of control issues
  • Reorganization of capital groups and transactions under common control
Participants receive a full package of training materials. Due to the wide context of the issues presented, the materials are not only used in class, but also allow you to return to the topics discussed after the training is completed in order to repeat and consolidate the acquired knowledge.

Date and location 

Basic level: November 17, 2021 | 9:00 am - 4:30 pm
Intermediate Level: November 18, 2022 | 9:00 am - 4:30 pm
Advanced level: November 19, 2022 | 9:00 am - 4:30 pm
Warszawa or Online Live
Training price:
one selected day: PLN 1090 net, two days PLN 2100 net, three days PLN 2 890 net


Artem Kovtun ACCA

Artem conducts training in the field of IFRS and training for selected ACCA exams.
He is a graduate of the Kiev National University of Economics. Wadym Hetman in Kiev. He is a member of ACCA (Association of Chartered Certified Accountants).
He started his financial career as an auditor at EY, where he specialized in auditing financial statements of companies from the real estate, service, commercial and telecommunications sectors. Currently, he is the financial controller of a real estate group in the Central and Eastern European markets.
His main area of professional interest is capital group cash flow management, US GAAP financial reporting and real estate market development.

Michał Błeszyński FCCA, CIA Manager 

A graduate of the Faculty of Computer Science and Management at the Wrocław University of Technology. He is a certified auditor, he has CIA qualifications (Certifed Internal Auditor) and is a member of ACCA (Association of Chartered Certified Accountants). For five years he worked in the audit department of Ernst & Young and was involved in auditing financial statements of mainly manufacturing companies as well as capital groups operating on the real estate market. He also participated in training new employees of the audit department in the scope of performing external audit tasks. Since 2008, he has been working as a trainer at the EY Academy of Business, where he specializes in the subject of International Financial Reporting Standards, management accounting and in internal audit. 

E-mail the Course Co-ordinator


Aleksandra Trych | tel. +48 505 171 636 |

Educational points/units 

Our training meets the conditions for self-education. 
Statutory auditors may undergo some compulsory professional development as part of self-education. During the 3-year settlement period, the number of self-study hours is at most 48 hours of self-study. (Ordinance of the Minister of Finance of November 21, 2014 on the mandatory professional development of statutory auditors). 
Self-education topics include: 
  • accountancy
  • financial audit
  • taxes
  • general economic knowledge - especially economic and financial law
  • IT issues
  • soft skills, the possession of which is necessary to perform the auditor's professional activities. 
Participation in stationary training includes the number of hours specified on the certificate. At EY Academy of Business 1 training day = 8 educational hours. 
CPD (Continuing Professional Development) - our trainings meet the requirements of international professional organizations (ACCA, IIA) regarding the further education of their members.