Changes in IAS-27 and Conslidated Accounts

[awaisaftab]

Hence many changes have made in IAS-27 and its terms and calculations which are made while making Consolidated financial statements such as minority interst. so the traditional books (Intermediate accounting,advanced accounts by Shukla,Advanced Accounts by S.P Jain and Advanced Accounts R.L Gupta,Modern Advanced Accounting by E. John Larsen,Advanced Accounting by Harry Simons / Wilbert E.Karrenbrock) of accouting which are used by mostly students of ICMA and CA have become useless. Please tell me which books cna be read to prepare topic of Consolidated Financial Statements from eximination point of view.

Regards,

Awais Aftab

[kamranACA]

Awais,

The changes which affect the consolidation process have mainly caused by a major shift in concept of acquisition accounting given by IFRS 3 which, except in one case, requires to abondon the idea of uniting of interests.

All the latest editions of the books published by PBP (BPP) or AT Foulks Lynch will, I hope, take into account the latest changes.

However, as far as consolidation is concerned I always recommend the book published by CIMA, authored by R.J.Kirk. It's undoubtedly the best book I have ever seen on this specific topic. I hope you can find its latest edition updated for recent changes.

Regards,


KAMRAN.