Consolidation Procedures and Accouting for Changes in Ownership Interests
The session will examine the accounting for fundamental consolidation procedures and the acquisition and disposal of shares in a subsidiary. A distinction is made between share acquisitions and disposals that result in a parent company gaining or losing control; and those that do not result in a parent company gaining or losing control. The session will follow a practical approach. Basic consolidation procedures will be looked at followed by the accounting for business combinations achieved in stages, which occur when an acquirer holds an equity interest in an acquiree prior to gaining control. The accounting for full and partial disposals of shares in a subsidiary resulting in a loss of control will then be addressed. The accounting aspects resulting from the purchase of additional shares after control is obtained, or arising from partial disposals that do not result in a loss of control will also be covered. Practical examples will be presented during the session.
MONIQUE MICALLEF B.Com., B.Accty.(Hons), M.Sc.(R’dg), C.P.A., F.I.A. is a certified public accountant and holds a practicing certificate in auditing. She received the Bachelor of Commerce degree and the Bachelor of Accountancy (Hons) degree from the University of Malta, and read for postgraduate studies, specialising in international accounting, at the University of Reading, UK.
She has worked in audit with one of the big four audit firms both locally and abroad, where she also delivered various technical training courses. For several years she also worked in the Accounting Advisory Services practice of the said audit firm, addressing technical IFRS issues. At the University of Malta she lectures on financial accounting and reporting-related topics to students reading for masters’ degrees. Her research publications, both local and foreign, focus on the application of accounting standards and aspects of local accounting issues. Monique Micallef is a member of the Malta Institute of Accountants where she forms part of the Accounting Committee. She is also a member of the European Accounting Association.