Consolidated accounts for a parent and up to eight subsidiaries under UK GAAP (FRS 102)
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When one company owns others, the group's real results are not simply the companies' accounts added together. Sales between group companies, loans between them, management charges, dividends paid up to the parent and profit on stock still sitting in another group company all have to come out, and the cost of buying a subsidiary has to be replaced by goodwill and the outside shareholders' share. This workbook does that for you. You paste in each company's trial balance, map it to one common chart of accounts, enter the ownership and acquisition details, and the workbook produces the consolidation journals, a consolidated profit and loss account and balance sheet with a column for every company, group KPIs and a dashboard – with checks that tell you when something doesn't add up.
See how it works
The sheets you will use most, in the order you will use them – shown with the sample data every workbook comes with.
Step 1
Every company, ownership, acquisition details, goodwill, fair value adjustments, foreign currency rates and the NCI workings. What you do: enter each company once; update the rates every year.
Step 2
Every company's trial balance in its own currency, mapped to group codes. What you do: paste the trial balances and map each line.
Step 3
Each company on the group chart in its own currency, with a balance check. What you do: nothing – just check every column balances.
Step 4
The two foreign subsidiaries translated into £, with the translation reserve. What you do: nothing – rates come from Group Structure.
Who it is for
Quick start
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Part of AML Finance Group
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